July 27, 2020 55 Italian banks are using Corda for interbank reconciliation.

55 Italian banks are using the permissioned Corda ledger, from the blockchain development company R3, for interbank reconciliation. Following an update to the Interbank reconciliation process, Italian banks can share data and update transaction flows as part of the country’s new Spunta Project via the Corda platform. Spunta is currently in its second phase and is expected to transition to its final stage in October where a total of 70-100 banks are expected to be involved.