R3 blockchain consortium startup contemplates going public via an IPO


  • R3 is currently developing a scalable and efficient distributed ledger for enterprises.
  • R3 distance from speculations of a public listing says its immediate goal is a blockchain solution.

According to a report by Bloomberg, R3 a blockchain consortium start is considering going public in an initial public offering (IPO). Bloomberg says sources “familiar with the matter” confirmed that R3 is in talks with various advisers on the same. Details, where the IPO could be executed, are yet to come to light.

The same sources said that R3 is currently working on developing a scalable and efficient distributed ledger, particularly for enterprises. Moreover, R3 has already been approached by interested parties.

Also Read: Bitcoin market update: BTC/USD pushing towards $10,400 after testing $9,800

While speaking to Bloomberg R3 distance itself from the speculation keeping the matter (public listing) out of the public, although:

“We’re not surprised about the speculation given the success of Corda, but an IPO is not a path we’re pursuing at this time. Our mission from the start was to deliver a blockchain solution for the widest possible business community, and any decision we make will have that goal in mind.”

At the moment, R3 is said to have around 300 partners who are from both private and public sectors that are collaborating in the development of open-source Corda blockchain as well as the commercial arm of R3 Corda Enterprise.

Up to now, R3 has raised $112 million in two rounds of funding. Some of the investors according to Crunchbase include HSBC, Bank of America Merrill Lynch, CLS and the SBI Group.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD now allergic to $10,000; probable target at $9,000

Bitcoin is unable to stay sustain gains above $10,000 following the drop experienced last week. In fact, it is as though the price is allergic to $10,000 and now seeking a safe haven towards $9,000.

More Bitcoin News

Litecoin market update: LTC massive correction in the offing

Litecoin has lost more than 50% of its value since 2019 high achieved in June this year. A glance at the four-hour chart, we can all jump into the conclusion that LTC is in a dumping phase. 

More Litecoin News

Ripple market overview: XRP/USD keeps sinking as bears retain control

XRP/USD has fallen from $0.266 to $0.265 in the early hours of Thursday. Over the last four days, the price of Ripple has fallen from $0.284 to $0.265. The hourly breakdown for Wednesday shows that the price fell from $0.274 to $0.26.

More Ripple News

Ethereum: Bulls try to end on a high following another overwhelmingly bearish day

Ethereum has ended up with a second bearish day in a row, wherein it fell from  $196.60 to $187. The hourly breakdown of the price shows that the price plummeted from $196.60 to $180 within 12 hours.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP