Morgan Stanley does not plan to renew its membership in the R3 CEV LLC blockchain group or invest in a $150 million equity funding round meant to speed the technology’s development, a person familiar with the bank’s plans said. It’s the latest major bank to retreat from R3, which is exploring the use of the […]
Both Santander and Morgan Stanley have also left the R3 CEV blockchain group , following Goldman Sachs , one of the original 12 members , who joined but did not offer its reasons for leaving . In response , R3 said that its " diverse group of members all have different capacities and capabilities which naturally change over time . " The group 's funding efforts are still ongoing but it recently reduced the target from $ 200 m to $ 150 m .