R3 CEV aims to raise $150 million with the third tranche of fundraising round scheduled for later this year.
JP Morgan has announced its exit from the bank blockchain consortium, thus becoming the latest banking giant to leave the initiative.
The bank will buy the technology, developed by Merchant Customer Exchange (MCX), to drive the expansion of its smartphone payment application Chase Pay.
Chronicled demonstrated a solution that creates a secure link between any physical asset and the blockchain.
J.P. Morgan, Chase, Intel, Microsoft, Banco Santander and other firms have established an alliance to develop solutions for financial companies using Ethereum blockchain.
The cooperation is expected to contribute significantly to the overall development of Ethereum.
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.
The platform called Quorum will allow using a publicly available system for confidential transactions.
The testing is a part of bank’s blockchain project aimed at adoption of the technology to the banking industry.
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.
The project aims at transformation of loans and settlements with a help of blockchain technology.