Most R3 Members Will Invest in Funding Effort, Sources Say
More than 30 R3 member banks are expected to invest in the blockchain consortium startup as part of its ongoing $150m funding round, a source close to the deal told CoinDesk. According to sources with knowledge of the details, the funding round would find R3 Partners (the startup's capital vehicle) retaining 40% of the company, with member banks allotted the remaining 60% of the venture. R3 members reportedly had until last Friday to declare non-binding interest in the funding round. Members who do not participate are reportedly able to join R3 Labs, a separate entity that includes all....
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As many as seven of the original 42 members of the R3CEV banking consortium have yet to express interest in funding the startup's ongoing $150m funding round, leaked documents reveal. Released on PasteBin this morning (and confirmed by sources close to the deal), the text details a list of the banks that have expressed interest in participating in the funding, how much each could invest and the names of seven banks that are alleged to have opted-out. The list of banks includes names that have confirmed they are no longer participating in the consortium, including Banco Santander and....
Morgan Stanley is said to be pulling out of the R3CEV blockchain consortium, according to reports. Reuters and The Wall Street Journal indicate that the bank doesn't plan to take part in the startup's ongoing funding effort, aimed at raising $150m. Earlier this week, it was revealed that Goldman Sachs and Banco Santander had moved to withdraw from the consortium, though at press time, neither bank has publicly commented on the reasons for their exits. Departures aside, the consortium is pushing forward, as most of the R3 member banks are said to be planning to invest in the funding round.....
Members of six African banks reportedly met yesterday to discuss the next steps in their ongoing effort to connect aspects of the South African banking system via a private version of the ethereum blockchain, according to sources. Present at the event was CIO of Barclays Africa's corporate and investment banking division, Andrew Baker, who said that while the unnamed banks are still in the early phases of the "most pure collaborative process" he’s ever participated in, the effort has been propelled by a surprising technology – instant messaging. After some early internal work....
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:....
Bitcoin brokerage Circle Internet Financial is said to be raising as much as $40m in new funding. As reported by Fortune, Circle is raising the funds at a valuation of $200m, citing persons with knowledge of the negotiations. A representative for Circle declined to comment. The move, if confirmed, would represent Circle's largest funding effort to date. Circle raised $17m in a Series B round last year, following an earlier $9m in Series A funding from 2013. The funding would raise Circle's total investment to $66m. Circle