Corda reference implementation
The cash issuer node acts as a bridge between the corda realm and the banking realm, and sits within the Bank legal entity. It performs the following operations
- Receives payments of fiat currency into a bank account and issues Corda cash states of equal value,
- Safeguards the fiat currency which has been received from parties
- Facilitates the redemption of cash states when they are no longer required and transfers the fiat currency bank to the party requesting the redemption
With “cash on ledger”, parties holding cash states can settle their obligations, atomically, on-ledger.