SIA, a European payment services company, and the UK-based technology company Quant Network. They successfully tested blockchain interoperability between different protocols, SIA said.
SIA and Quant Network first announced their partnership on June 5. This partnership aims to develop cross-platform applications and services for banks and financial institutions. The aim is to integrate Quantized’s Overledger blockchain operating system into SIA’s SIAchain infrastructure and to enable interoperability. She hopes to find solutions to the challenges that financial institutions face when it comes to blockchain integration.
Both companies were able to integrate the Overledger technology into SIAchain and combine authorized blockchain activities. According to SIA, this enables cross-platform applications such as authentication, payments and customer or KYC services.
Further tests are currently being carried out in SIAchain, Corda by R3 and private Ethereum networks. Quant Network and SIA want to bring this cross-block block solution to the market and look for further use cases.
SIAchain is a private infrastructure that uses 570 European network nodes within SIAnet. It supports financial institutions, companies and public administrative authorities in the development and implementation of innovative applications based on blockchain technology.