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CULedger has expanded its partnership with enterprise software firm R3 to further support domestic and cross-border payments for credit unions, also known as financial cooperatives, worldwide, on the Corda blockchain platform. Corda will serve as the underlying basis for CULedger’s new electronic funds transfer (EFT) product, CU Pay.

CULedger is leveraging its relationship with R3 to help credit unions reduce risks associated with cybersecurity and fraud, improve the member experience, streamline internal processes and reduce administrative and operational costs. CU Pay is not intended to replace existing EFT networks, but enable connectivity of multiple payment networks.

CULedger, a credit union service organization (CUSO) that focuses on delivering the world’s premier network of one-to-one financial exchange for credit unions, announced today its support as the Title Partner of the upcoming documentary Blockchain City, which covers the state of blockchain today across major global centers of innovation.

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