Axellect will develop digital currency platforms based on R3 solutions.

Axellect and R3, a leading provider of distributed ledger technology software, have entered into an agreement to develop innovative solutions for the financial markets of Kazakhstan, other Central Asian countries, and the MENA region. The partnership aims to develop distributed ledger platforms based on R3’s development — the Corda DLT platform.

Corda, R3’s flagship product, was created for regulated markets to enable an open, secure, and resilient digital economy based on the secure movement of capital. The platform is already used by official regulators in hundreds of countries worldwide to promote an innovative approach in financial markets.

In the future, the focus of collaboration between Axellect and R3 is planned to be expanded to explore the application of the platform in a number of other areas. The blockchain platform will serve as the foundation for solutions in logistics, optimizing real estate sales processes, and can also be used in the public sector, including for the digitization and security of public records.