R3 is a consortium of global financial institutions building distributed ledger and blockchain technology for commercial financial-services use. The company maintains a proprietary ledger and an infrastructure network that allows banks and technology firms to build ledger-based applications and services. R3 counts customers including the government of Singapore, the Bank of Canada and other national financial institutions. Its current product focus is on business applications such as verifying transactions between banks and automating processes like the establishment of the London Interbank Offer Rates; the company has also noted potential future use cases such as digital fiat currencies. R3 is positioned as the largest consortium of global financial institutions working on commercial distributed ledger applications. The company plans to use new funding to accelerate technology development and grow strategic partnerships for project deployment.

Total raised

$107M

Funding rounds

1

Latest round

Series A

Latest activity

May 2017