Interoperability Connectors

The financial services ecosystem consists of a variety of established and competing technological standards, which challenge the possibility of “one-size-fits-all” solutions for legacy and digital assets. Data formatting and standards can vary greatly across different networks and ledgers, which makes reconciliation of complex multi-party, multi-asset transactions across systems difficult.

In response, Knova designed a flexible and future-proofed system that could interoperate with versatile programmable ecosystems in the digital assets space and traditional legacy systems (including existing business integrations).

Knova’s interoperability methods can interact with tokenization platforms, blockchains, DLTs, legacy systems, and traditional payment rails.

Interoperability Mode #1: Hashed Timelock Contracts (HTLCs)

Knova supports protocols such as HTLC to bridge transactions with other ledger technologies that support HTLC, e.g., any EVM Chain, HL Fabric, Firefly, R3 Corda, as well as interaction with the ERC-20 token standard (among other standards).

Interoperability Mode #2: Relay Bridges Cross-Chain

Knova supports relay bridges based on open-source standards such as Hyperledger Cacti, which enables interoperability with other ledgers that support the same relay mechanism.

Both the above techniques enable coordinated asset transfers and exchanges across Knova and the other ledger.

Interoperability Mode #3: Interoperability with Traditional Payment Systems

Knova allows the transportation of messaging information in any standard alongside a Knova transaction. For example, ISO 20022 or SWIFT MT equivalents can be carried along with the Knova transaction.

Knova's event-driven architecture supports writing adapters that can translate back and forth from standards such as ISO 20022, SWIFT MT, FIX, and can integrate with any messaging standards. All fields from the Knova transaction are available for mapping to fields within these standards. Internally, Knova uses standards such as UETRs (UUIDV4), ISO Dates, and ISO currency standards for ease of mapping to the same fields in ISO 20022 and MT messages.

These adapters can form on-ramps/off-ramps with existing messaging interface products in use at financial institutions over protocols such as MQ, file-based adapters, or REST APIs.