R3 Consortium Raises $107 Million from Major Global Banks
- R3 secures the largest ever investment for distributed ledger technology - $107 million from over forty financial institutions.

The London Summit 2017 is coming, get involved!
The first two tranches of the Series A round were made available only to R3 members, while the third and final tranche – which opens later this year – will be accessible to R3 members and non-R3 institutional investors.
R3 explains that it will use the funds to accelerate technology development and expand strategic partnerships for product deployment. The company’s efforts will be focused on Corda, R3’s Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term platform for regulated financial institutions, and its infrastructure network.

David E. Rutter, CEO of R3, comments: “This investment is unprecedented. Many of the world’s largest financial firms have come together not just with capital support, but with a robust commitment to work with R3 in developing industry solutions that will be the building blocks of the new financial services infrastructure. We’ve got unparalleled momentum.
R3 has proven the collaborative model can successfully drive innovation in financial services to a degree never before seen,” continues Rutter. “In the space of less than two years, we have built a network of over 80 members, launched an open-source distributed ledger platform specifically for wholesale financial markets, conducted over 60 detailed use cases across a variety of asset classes, led the way in regulatory engagement on behalf of the broader DLT community and are ahead of schedule for initial commercial deployments this year. We are on our way to becoming a new operating system for financial services.”
Investors come from across Europe, Asia-Pacific and the Americas, counting over forty participants from over 15 countries. These include:
- Banco Bradesco
- Itaú Unibanco S.A.
- Bangkok Bank
- Mitsubishi UFJ Financial Group (MUFG)
- Bank of America Merrill Lynch
- Mizuho
- Bank of Montreal
- Natixis
- Bank of New York Mellon
- Nomura
- Barclays
- Nordea Bank
- BBVA
- Northern Trust
- BNP Paribas
- OP Cooperative
- B3 (BM&FBOVESPA and Cetip)
- Ping An
- Canadian Imperial Bank of Commerce
- Royal Bank of Canada
- Citi
- SBI Group
- Commerzbank
- SEB
- Commonwealth Bank of Australia
- Societe Generale
- Credit Suisse
- Sumitomo Mitsui Banking Corporation
- CTBC Financial Holding
- TD Bank Group
- Daiwa Securities Group
- Temasek
- Danske Bank
- The Bank of Nova Scotia
- Deutsche Bank
- The Royal Bank of Scotland
- HSBC
- U.S. Bank
- ING
- UBS AG
- Intel Capital
- Wells Fargo
- Intesa Sanpaolo
- Westpac
The independent investment bank Broadhaven Capital Partners was the sole advisor to R3 on this deal.
The London Summit 2017 is coming, get involved!
The first two tranches of the Series A round were made available only to R3 members, while the third and final tranche – which opens later this year – will be accessible to R3 members and non-R3 institutional investors.
R3 explains that it will use the funds to accelerate technology development and expand strategic partnerships for product deployment. The company’s efforts will be focused on Corda, R3’s Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term platform for regulated financial institutions, and its infrastructure network.

David E. Rutter, CEO of R3, comments: “This investment is unprecedented. Many of the world’s largest financial firms have come together not just with capital support, but with a robust commitment to work with R3 in developing industry solutions that will be the building blocks of the new financial services infrastructure. We’ve got unparalleled momentum.
R3 has proven the collaborative model can successfully drive innovation in financial services to a degree never before seen,” continues Rutter. “In the space of less than two years, we have built a network of over 80 members, launched an open-source distributed ledger platform specifically for wholesale financial markets, conducted over 60 detailed use cases across a variety of asset classes, led the way in regulatory engagement on behalf of the broader DLT community and are ahead of schedule for initial commercial deployments this year. We are on our way to becoming a new operating system for financial services.”
Investors come from across Europe, Asia-Pacific and the Americas, counting over forty participants from over 15 countries. These include:
- Banco Bradesco
- Itaú Unibanco S.A.
- Bangkok Bank
- Mitsubishi UFJ Financial Group (MUFG)
- Bank of America Merrill Lynch
- Mizuho
- Bank of Montreal
- Natixis
- Bank of New York Mellon
- Nomura
- Barclays
- Nordea Bank
- BBVA
- Northern Trust
- BNP Paribas
- OP Cooperative
- B3 (BM&FBOVESPA and Cetip)
- Ping An
- Canadian Imperial Bank of Commerce
- Royal Bank of Canada
- Citi
- SBI Group
- Commerzbank
- SEB
- Commonwealth Bank of Australia
- Societe Generale
- Credit Suisse
- Sumitomo Mitsui Banking Corporation
- CTBC Financial Holding
- TD Bank Group
- Daiwa Securities Group
- Temasek
- Danske Bank
- The Bank of Nova Scotia
- Deutsche Bank
- The Royal Bank of Scotland
- HSBC
- U.S. Bank
- ING
- UBS AG
- Intel Capital
- Wells Fargo
- Intesa Sanpaolo
- Westpac
The independent investment bank Broadhaven Capital Partners was the sole advisor to R3 on this deal.