Accenture and R3 are to work on a real-time gross settlement system to enable faster, more efficient, reliable and secure payments between banks and customers. John Velissarios, a managing director and global blockchain technology lead at Accenture, remarked: “The RTGS prototype, designed in collaboration with SAP and R3, demonstrates the next stage of efficiency in payment systems and ultimately, paves the way to linking to tokenized-assets, like equities, to create an increasingly integrated and seamless financial services ecosystem.” Meanwhile Cathy Minter, chief revenue officer at R3, noted that “Through our relationship with Accenture and SAP, R3 is collaborating with two of the tech industry’s major players to provide a real-time gross settlement token-based exchange. The end result is nearly instantaneous settlements, which will reduce friction throughout the transaction chain.”

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