Sources say most R3 members will participate in new round of financing

Rage Review : A few days ago, it was reported that Goldman Sachs and Santander left the R3 blockchain alliance. Now, insiders say that R3 will launch a $150 million financing, and most bank members will participate in the investment. It is said that the list of these members has been announced internally, and independent requirements have been made for members who do not participate.

Translation: Annie_Xu

More than 30 R3 bank members will participate in the startup’s funding round, with a total investment of $150 million, according to people familiar with the matter.

R3 Partners (a capital management company for start-ups) will retain 40% of the funds, and 60% will be distributed to bank members.

R3 members began expressing interest in the round last Friday.

Members who do not participate in the financing can join R3 Labs, which was established specifically for new members after the number of member institutions reached 42 in November last year. Reuters reported that these 42 first members have priority investment rights, but other non-bank investors can also participate.

Banks that do not participate in the financing will lose all the investment they have previously received.

Sources said that a list of R3 members interested in the funding has been announced internally.

Some people complained that the financing period was too long and the fees charged by the bank were too high, while others praised the bank's cooperation.

The news comes less than a day after Goldman Sachs and Santander reportedly left the alliance for unknown reasons.

R3 also did not provide an explanation, simply reiterating its previous press release.

“Developing emerging technologies like this requires a lot of resources and effort, and our team of members has different capabilities that will naturally change over time.”