Blockchain startup R3 is weighing various options, including a sale

ChainCatcher news, the New York-based blockchain startup R3 has now had preliminary discussions with representatives from Ava Labs, the Solana Foundation, and Adhara, covering various options including joint ventures, minority stake sales, or a complete sale.

According to insiders, although its Corda technology is used by several real-time platforms such as the digital asset trading platform of the Swiss Stock Exchange, some projects have not yet entered the testing phase. R3 was founded in 2014 and focuses on developing blockchain-based systems for banks and other financial companies. It initially led a consortium of large banks aimed at building blockchain systems capable of running some of the most complex processes. R3 raised $122 million in a funding round completed in 2018 from over 40 institutions, with investors including Barclays, UBS Group, and Wells Fargo. (Bloomberg)