Goldman Sachs Walks Away from R3 Consortium
Goldman Sachs is moving out of the R3 blockchain consortium as it failed to renew its membership in the fintech group. The R3 blockchain consortium is losing one of its key founding members. As reported, banking giant Goldman Sachs is walking away from the collaboration after failing to renew its membership last month. The investment bank was one of the nine original founding members of the consortium; its separation from an otherwise active development project signals its changing perspectives towards the project’s future. It is, however, not clear whether other banks have the similar....
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Spanish banking giant Banco Santander is no longer a member of the R3 blockchain consortium, CoinDesk has learned. The news comes hours after it was revealed that Goldman Sachs, one of the original 12 members of the consortium effort, would depart the group. At press time, Goldman Sachs has not yet stated its reason for leaving, though it is known R3 is now soliciting as much as $150m in funding from its members. A spokesperson for Santander was similarly tight-lipped about the bank's decision to leave, indicating he could not provide more details about its departure. He told CoinDesk:....
In less than a day of Goldman Sachs' departure, Santander has made its decision to separate from R3 consortium public. Banco Santander (BME:SAN) has become the latest financial institution to exit R3CEV’s much marketed blockchain consortium. Only less than 24 hours ago, American multinational Goldman Sachs (NYSE:GS) had confirmed dropping out of the aforementioned Wall Street blockchain league. The company, in its press statement, had cited its indifferences with R3 members regarding the upcoming equity funding round as its major reason to dropout from the group. It has been published that....
Goldman Sachs has reportedly elected not to renew its membership in blockchain consortium R3CEV. According to The Wall Street Journal, the bank has left the group, but notably intends to continue developing blockchain projects on its own. (Goldman Sachs is an investor in blockchain technology startups Circle and Digital Asset Holdings). In response to the departure, R3 has said that exits among members are to be expected over time. A spokesman told the Journal: "Developing technology like this requires dedication and significant resources, and our diverse pool of members all have....
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Goldman Sachs, one of the earliest members of the R3 blockchain consortium has reportedly chosen not to renew its membership with the working group. In a report by the Wall Street Journal, investment banking giant Goldman Sachs has elected to let its R3 membership lapse and stopped being a member effectively as of October 31. The exit is notable following a steady influx of members that includes banks, insurance giants and technology firms that have – over the past year – added to R3’s member banks. Still, a spokesperson for R3 played down the significance of the exit, stating that member....