R3 and Solana Partner to Bridge Permissioned and Public Blockchains

R3, an enterprise blockchain company, is working with the Solana Foundation to link Corda’s permissioned blockchain network to Solana’s permissionless Layer 1 blockchain. The partnership will allow regulated financial institutions to use public blockchain infrastructure while continuing to follow compliance standards for tokenizing real-world assets.

The deal includes the appointment of Lily Liu, President of the Solana Foundation, to R3’s board of directors. R3 plans to bring its regulated on-chain assets, totaling more than $10 billion, onto the Solana network. The firm will develop a new consensus service on Solana to support this effort.

The agreement occurs as R3 explores strategic options, including possible investment or a sale. According to Bloomberg, the company has held talks with groups such as Ava Labs and Adhara. While there is no confirmation that Solana is investing directly in R3, Liu’s appointment suggests a deeper partnership. R3’s founding CTO, Richard Brown, has also returned to the company full-time.

This partnership comes at a time when the regulatory environment for public blockchains is changing. Ten financial industry groups recently asked the Basel Committee on Banking Supervision to reconsider rules that label tokenized assets on public blockchains as high risk. These rules require banks to hold large amounts of capital against these assets, limiting their engagement with public blockchain systems.

R3 primarily serves banks and financial infrastructure companies. Currently, banks face more limitations when using public blockchains, but other financial firms have fewer restrictions. The changing regulatory environment may shift these boundaries in the future.

R3’s Corda platform already supports institutional digital ledger projects, such as HQLAX, a digital collateral solution using Clearstream as the service provider. Jens Hachmeister from Clearstream said, “The convergence of public and private blockchains is no longer a future promise – it’s happening now. This is a generational shift in how value moves, and a compelling moment for any institution looking to enter the crypto space. We’re excited for what’s ahead.”

Technically, R3 will create a consensus service for Solana that allows assets and transactions on the Corda platform to move onto the Solana Blockchain. This solution differs from past interoperability methods by having private Corda transactions validated directly on Solana instead of using Corda’s usual notary nodes. Assets managed on Corda will also be able to use Solana-based stablecoins for settlement. Additional details are available in DeFi-built-by-r3-powered-by-solana/”>R3’s blog post.

R3 CEO David Rutter said the company chose Solana after a thorough review of decentralized protocols, noting Solana’s technical suitability. Rutter explained, “We know DeFi isn’t coming to TradFi, so it’s up to us to build the connective infrastructure that links these two ecosystems. This is about adapting to deliver real-world utility, institutional-grade readiness, and shaping the long-term future of regulated markets.”

This collaboration aims to help institutional finance access public blockchains while maintaining compliance and control. As regulations evolve, R3 hopes to serve both banks and financial infrastructure providers as they enter new digital markets.

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