JP Morgan has announced its exit from the bank blockchain consortium, thus becoming the latest banking giant to leave the initiative.
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.
The distributed ledger technology has to overcome a number of issues to achieve widespread usage by banks, according to a new study from Morgan Stanley.
The World Economic Forum 2016 in Switzerland is expected to concentrate on the topic of fintech revolution this year.
According to reports, Russia’s Sberbank plans to join the R3-led international blockchain consortium.
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.
Chinese peer-to-peer online lender Lufax is planning to raise $1 billion next year in an attemp to reach a value of between $15 and $20 billion.
The innovation firm R3 has received support from five additional banks that joined the company’s project on developing blockchain solutions for the finance industry.
Even though investments in Bitcoin startups have recently decelerated, financial institutions like American Express are still getting more interested in the potential of BItcoin.
Thirteen top banks, including Citi, Bank of America and Deutsche Bank, have joined a consortium led by financial tech firm R3 that is developing blockchain technology for the financial industry.