Software company R3 has partnered with 22 of its member banks to create an international payment system based on distributed ledger technology (DLT), the firm announced in a press release Tuesday. A prototype of the solution will be out by the end of this year. DLT is based on blockchain, the ledger technology that underpins Bitcoin, along with a host of other technologies. The goal of the new solution is to provide a safe and secure way to speed international payments and improve cross-border business, the release said.