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There are now a total of 55 banks operating on R3 Corda in the Spunta project. No, it has nothing to do with Ripple or XRP, but it is a significant step for DLT adoption. The faster banks get, the more important quick settlement becomes. https://www.finextra.com/pressarticle/82636/more-italian-banks-join-spunta-dlt-platform
R3 Corda is a platform that updates common records (paperwork) when conditions are fulfilled. It can interface w/ whatever you build for; SWIFT GPI, XRP, XDCE, etc., and undoubtedly many more to come. (Look at how Finteum/FNALTY use it)
It is not a token, nor does it explicitly require one. You might integrate any number of tokens/DLT w/in your specific implementation of Corda for different purposes, but it doesn't "use" any of them or run on them. Corda is a standalone platform.
Corda Settler is a "CorDapp" , a prewired module that can move value ($) when a condition is fulfilled e.g., automatic payment once a shipment is received. Corda Settler can interface w/Swift to initiate/track payments or with XRP payments.
XRP payments in Corda Settler would require both parties to hold XRP and send it via the XRPL. Ripple is not involved. Will companies use XRP with Settler? Well, they would have to buy a lot of XRP and figure out KYC/AML so I am skeptical it is worth it at this point.
Instead, the presence of Corda Settler as an original app is important as a signal of the influence SBI had over R3 w/ their investment in it. It might be more helpful to think of Corda like Xpring; another developing ecosystem that in streamlining tx's, makes XRP more useful.
Sorry for the length, but I think the XRP/Ripple/Corda relationship can be unintuitive if you are entering the discussion from a crypto perspective, so maybe this helps. The kind folks haunting XRPChat have been helpful over the years for me to figure it out, too. Cheers
