JP Morgan has announced its exit from the bank blockchain consortium, thus becoming the latest banking giant to leave the initiative.
The New York-based blockchain solutions provider, Axoni, has secured an investment from a range of prolific investors, including such banking giants as Goldman Sachs and J.P. Morgan.
A blockchain startup R3 CEV is going to raise $150 million in its first funding round and some of its original members have already expressed their intention to invest.
Morgan Stanley can follow Goldman and Santander that have recently unveiled their plans to leave R3 consortium.
R3 CEV is starting fundraising with most of consortium participants expressing their interest in investing.
Blockchain has appeared to be in the limelight of multiple financial companies within the past year. This digital public database is redefining what is possible within the fintech ecosystem and beyond.
Final round increased the total sum of investment to $60 million.
Don Duet states that blockchain can disrupt the existing financial system.
Only 14% of those interrogated predicted that banks can suffer from financial technology disruption.
Thus R3 project has just grown up to 42 members – the world’s largest and most influential banks.
The blockchain holds huge promise for the future of the financial industry, with the world’s leading organizations developing solutions based on the bitcoin technology.
Goldman Sachs has developed a new cryptocurrency using the blockchain technology.
Even though investments in Bitcoin startups have recently decelerated, financial institutions like American Express are still getting more interested in the potential of BItcoin.