CLS invests $5 million in R3; Paxos scores $65 million funding round

CLS invests $5 million in R3; Paxos scores $65 million funding round

Blockchain consortium R3 has banked a $5 million investment from FX risk platform CLS.

The investment expands R3’s footprint in the FX space, strengthening its ties to a critical infrastructure underpinning financial markets.

CLS, which settles over $5 trillion of payments instructions on an average day, says it will work with R3 to explore how the coalition's Corda blockchain platform, can be deployed to improve efficiencies for its 70 member banks.

The investment by CLS is matched by Singapore real estate firm OUE and Japanese IT services provider TIS, who have each contributed $5 million towards the latest capital raise, according to Reuters.

Elsewhere in the blockchain space, post-trade startup Paxos has closed $65M Series B funding to scale operations for delivery of its Bankchain platform, aimed at eliminating settlement risk in the precious metals and securities asset classes. Paxos has raised a total of $93 million in capital to date.

Comments: (0)

Get your copy of the OneSpan eBook - How to minimise the risk of Social Engineering attacks in Banki
Iliad Solutions - Pioneers in Real-Time Payments

Trending Stories

Featured Job
All Jobs »
London, UK

Sales Director, Private Equity Solutions (London, UK)

Competitive base, double ote, benefits, stock options

22 Jul