Singapore’s OneHypernet teams up with R3 to build netting solution

Instead of searching through a chain of banking agents, the most efficient settlement routes are automatically generated.

Singapore-based payments network, OneHypernet, has partnered with enterprise software firm R3 to build a decentralised yet secure multilateral netting solution.

The solution will be powered by Corda, R3’s flagship enterprise blockchain platform, and Conclave, R3’s new computing platform which secures sensitive business data whilst it’s being used.

By leveraging on confidential computing, OneHypernet’s decentralised multilateral netting solution aggregates transactions from multiple parties while keeping data secure and private, the press release said.

For example, instead of searching through a chain of banking agents, the most efficient settlement routes are generated from all permutations, providing a complete view of the foreign exchange market.