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 […]
Banco Santander and Morgan Stanley have also left the R3 CEV blockchain consortium, following Goldman Sachs, one 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. We are committed to continuing our work with these partners as we continue to develop a robust ecosystem around R3."