Ripple Partner NTT Data and R3 Launch Spunta
Spunta is the reconciliation of bilateral accounts, a sort of nostro and vostro account. It’s a process aimed to clear the mismatch in a double entry bookkeeping.
A Nostro account is a reference used by Bank A to refer to “our” account held by Bank B. Nostro, is a shorthand way of talking about “our money that is on deposit at your bank.”
Vostro is the term used by Bank B, where Bank A’s money is on deposit. Vostro is a reference to “yours” and refers to “your money that is on deposit at our bank.” A Vostro account is like any other account held by a bank. The account is a record of money owed to or maintained by a third party, typically another bank, but it can be either a company or an individual.
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