R3, a provider of digital solutions for financial markets, has announced a partnership with IDEMIA Secure Transactions (IST), a division of IDEMIA Group, a global provider of security and connectivity solutions. This collaboration aims to support the Central Bank Digital Currency (CBDC) landscape by integrating IST’s offline payment solution into R3’s Digital Currency platform, enabling secure CBDC transactions in both online and offline environments.
R3’s Digital Currency platform, based on its Corda technology, is designed to support financial infrastructure. Corda is a tokenisation platform for regulated institutions with over 60 active applications worldwide, providing programmable digital money solutions for wholesale and retail CBDCs, as well as private digital currencies. The platform focuses on security, scalability, and interoperability, allowing institutions to maintain network control while enabling cross-network transactions.
R3 has also been actively involved in key initiatives with central banks, including its collaboration with the Bank of England on the Regulated Liability Network (RLN) experimentation phase. This project, conducted alongside technology partners such as Quant—a member of the Digital Pound Foundation—has focused on exploring the practical applications of CBDCs and enhancing interoperability within regulated financial ecosystems. Through this work, R3 continues to contribute to the development of robust, secure digital currency infrastructures that meet the evolving needs of the financial sector.
IDEMIA Secure Transactions provides secure offline payment capabilities. Using hardware security, offline protocols, and device-integrated security layers, IST’s solution allows CBDCs to be transacted securely without internet connectivity. IST also offers dynamic provisioning technology for deploying offline wallets on user devices, such as smartphones and smart cards, helping to broaden the accessibility of digital currencies.
The integration of IST’s offline solution with R3’s Digital Currency platform aims to improve the usability and resilience of CBDCs. This partnership enables CBDCs issued on Corda to be used in offline transactions, offering cash-like functionality. It is particularly relevant for financial inclusion in areas with limited connectivity and supports payment continuity during network outages, contributing to the resilience of digital payment systems.
Kate Karimson, Chief Commercial Officer of R3, commented, “As many countries explore CBDCs and tokenised payment solutions, there is potential for financial efficiencies. By supporting secure offline transactions, this collaboration with IDEMIA Secure Transactions aims to improve accessibility and contribute to the development of digital payments. We look forward to expanding these capabilities further.”
Kate Eagle, Head of Growth & Innovation Incubation at IDEMIA Secure Transactions, said, “Working with R3 to integrate our offline digital currency solution into the Corda network extends access to digital currencies and supports secure offline transactions. This partnership aims to enhance security and financial inclusion.”
The partnership highlights the role of offline payment capabilities in the digital currency ecosystem. Offline CBDC transactions provide a payment option that does not rely on continuous internet connectivity, which can be important in regions with limited infrastructure and during situations where digital resilience is needed.
