Corda, Overledger and XRP: Where the Paths Crossed Why I went back to 2018 This week Quant had two big days. On September 24, seven UK banks completed live interbank customer transactions using tokenised sterling deposits on a platform Quant built. The same day, The Clearing House picked Quant to run the orchestration layer of its US tokenized deposit network. That sent me digging. I remembered reading some articles on a time when R3's Corda, Quant's Overledger and XRP all showed up in the same picture. They did. Here is what actually happened, with sources, and where each one ended up. 2016 to 2018: Ripple and R3 The option. In September 2016, Ripple gave R3 the right to buy up to 5 billion XRP at $0.0085, valid until September 2019. At the time, R3 was the bank consortium behind Corda. The fight. In 2017 Ripple tried to end the deal, and both sides sued. Ripple said R3 had not delivered on promises to open doors with its member banks. The settlement. In September 2018 they settled. Terms were confidential. Documents from the later SEC case showed R3 exercised the option on about 1.04 billion XRP in 2019. Ledger Insights worked out that this was worth somewhere between $240 million and $470 million, depending on the price at exercise. December 2018: Corda Settler picks XRP first Three months after the settlement, R3 launched Corda Settler. It is an open source app that lets a payment obligation recorded on Corda be settled on an outside payment rail, with an oracle confirming the payment. R3's own press release headline: "XRP the first settlement mechanism." The code is still public on GitHub. The repo has a dedicated ripple module with an XRP client and an XrpSettlement type. That module was last changed in June 2019, and the repo itself was last updated in November 2020. 2019: Overledger connects to both Quant's Overledger was built to connect different ledgers. By 2019 its supported list included R3's Corda, Hyperledger Fabric, JP Morgan's Quorum, enterprise Ethereum and Ripple. In 2019, SIA tested Overledger between Corda and Ethereum. So for a moment the pieces sat side-by-side: Corda for the agreement, XRP as a settlement option, and Overledger able to talk to both. Where each one went 🧵👇