Microsoft expands partnership with R3 to push Azure in banking and capital market

Last year, Microsoft announced a strategic partnership with R3, a consortium of leading banking institutions, to help push blockchain technology into the financial services industry. Blockchain technology modernizes legacy financial processes, so trades of assets like stocks and bonds can be finalized in minutes, not days. In October 2016, Microsoft announced the availability of R3’s Corda on Microsoft Azure.

Yesterday, Microsoft announced its expanded partnership with R3 to accelerate adoption of R3’s Corda platform on Azure. As a result of this expanded partnership, Microsoft will now offer deeper integration of the Corda platform with Azure services such as SQL Database, Azure Active Directory, Key Vault, and Express Route allowing businesses to quickly and easily set up Corda nodes and networks reducing time and cost of deployment.

“Deepening our relationship with Microsoft helps put Corda at the fingertips of millions of businesses across the globe. The platform gives companies complete freedom to develop and deploy innovative DLT-based solutions to their customers’ specific challenges. Integrating Corda with Azure streamlines and simplifies the development and deployment process and ultimately helps businesses expedite commercial deployment of CorDapps,” said David E. Rutter, CEO of R3.

“Blockchain technology has the potential to unlock incredible value for businesses across industries. By expanding our partnership with R3, we’re making it easier for our customers to harness blockchain technology on Microsoft Azure so they can focus on building real-world business solutions, applications and pilots,” said Peggy Johnson, executive vice president, Microsoft.

Learn more about Corda here.