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 […]
Morgan Stanley and Goldman Sachs have also left the R3 CEV blockchain consortium, following Morgan Stanley , 12 of the original 12 members, who withdrew but did not offer its reason for leaving. In response, R3 said that its "diverse pool 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 $200m to $200m m.