CLS, a settlement services provider, announced today that it is investing $5 million in a 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 tampe 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 tampe Read this Term start-up. R3, which is based in New York, aims to provide blockchain solutions to the financial services industry.

Founded in 2015, the company leads a consortium of financial institutions researching blockchain technology. As a result of these efforts, the firm has developed its own blockchain platform called Corda.

This Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term was designed specifically for the financial services industry. Its main selling point is that it enables institutions to trade between one another directly as opposed to going through a host of other organizations that have traditionally processed transactions.

The firm notes that, though it designed Corda for the financial services industry, it can be used in any area of commerce. For instance, a supply chain vendor could receive payment from his clients via Corda.

Investment from big players

Today’s announcement comes approximately a year after R3 confirmed it had finished its first two rounds of fundraising. The company was able to raise $107 million in investment from a number of companies, including firms such as HSBC, Intel, and Temasek Holdings.

CLS’ $5 million investment will see the firm sitting on R3’s board of directors. The settlement services provider may have joined two other firms in putting money towards R3’s third round of fundraising. Singapore real estate firm OUE and Japanese IT services provider TIS are thought to have each invested $5 million in R3.

Commenting on the decision to invest in the blockchain firm, Alan Marquard, chief strategy and development officer at CLS, stated: “We look forward to working in collaboration with other members to explore how CLS can provide transformative blockchain-based solutions,” in an emailed statement.”