Blockchain : R3 CEV ’s member banks have shown interest in investing $ 59 m in the first funding round for the company , less than 50 % of its overall investment target . The start - up is attempting to raise $ 150 m from members and investors for a 10 % stake to develop blockchain - based technology for financial services , having previously hoped to gain $ 100 m for a 90 % stake in a new entity it planned to create . R3 EV plans to raise the money in the next nine to 12 months , and has yet to contact external companies beyond its original 42 bank members .
Blockchain consortium R3 CEV’s participating banks have shown interest in investing $59m in the first funding round for the company, less than 50% of its overall investment target. The start-up is attempting to raise $150m from members and investors for a 60% stake to develop blockchain-based technology for financial services, having previously sought to gain $200m for a 90% stake in a new entity it planned to create. R3 EV plans to raise the money in the next nine to 12 months, and has yet to contact external companies beyond its original 42 bank members.