R3 (R3CEV)

R3 (R3CEV LLC) is an enterprise software company founded in 2015 and headquartered in New York. Its blockchain platform Corda allows businesses to manage secure transactions directly between parties.[1]

R3 began as a consortium of nine major banks.[2] The consortium grew as more financial institutions sought to explore how blockchain could address inefficiencies in the ageing network of bank payments and settlements.[3] Its shareholders include Bank of America Merrill Lynch, HSBC, Barclays, ING, UBS, Credit Suisse, RBS, Royal Bank of Canada, and Wells Fargo.[4]

In 2017, R3 and Ripple Labs sued each other over cryptocurrency options worth more than $1bn.[5] The companies reached a settlement in September 2018.[6]

References
  1. Graphics, WSJ com News. "AI, Blockchain and Cybersecurity Startups Dominate 2018 Tech Companies to Watch List". WSJ. Retrieved 2021-01-04.
  2. "Blockchain initiative backed by 9 large investment banks | Financial Times". www.ft.com. Retrieved 2021-01-04.
  3. "Blockchain initiative pulls in another 13 banks | Financial Times". www.ft.com. Retrieved 2021-01-04.
  4. "CBA, Westpac back R3 blockchain capital raising". Australian Financial Review. 2017-05-23. Retrieved 2021-01-04.
  5. "Blockchain groups in $1bn cryptocurrency battle | Financial Times". www.ft.com. Retrieved 2021-01-04.
  6. "Ripple, R3 Reach Settlement in Multibillion Dollar Cryptocurrency Lawsuit". finance.yahoo.com. Retrieved 2021-01-04.

R3
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.