R3 Will Close Blockchain’s Biggest-Ever Investment in Q1, CEO Says

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R3 CEO David Rutter

The founder and CEO of blockchain banking consortium R3CEV says the firm is on the verge of closing the industry’s largest-ever funding round.

Originally reported to be as high as a $200m, the downsized $150m round would still give the consortium of global banking members a significant war chest, if it closes at that level.

In conversation with CoinDesk, CEO David Rutter elaborated on how his company has grown, and changed, as part what he described as an imminent cash infusion.

Rutter said:

“We will be closing the largest round in the industry, with the largest number of market participants, now, in the first quarter.”

To prepare for the investment, Rutter said he’s planning to move from R3’s New York headquarters to its office in London, which is also the base of chief technology officer and Corda developer Richard Gendal Brown and chief engineer James Carlyle.

R3’s managing director Charley Cooper confirmed that the consortium now employs “over 100” people in nine different countries, with the lion’s share in London.

“It’s the hub of the tech development team,” Cooper said.

Of 77 total firms, R3 now counts among its members a number of European institutions, including founding members Barclays,

Read more ... source: CoinDesk.com

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