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R3’s distributed ledger initiative grows to 42 bank members and looks to extend reach to the broader financial services community

Next phase of engagement to start in January and focus on non-bank institutions

December 17, 2015 (New York/San Francisco/London)Financial innovation company R3 has concluded its distributed ledger bank membership round with the addition of 12 new banks, bringing the total number to 42.  Since its September launch, the company has seen a groundswell of interest in the consortium from financial services companies around the world.  

Having built a network that includes most of the world’s major global banks, and with the window for the admission of new bank members having closed under the consortium’s formative agreement, R3 will now focus efforts on broader engagement with a diverse range of institutions outside of the banking industry.  As part of that initiative, R3 is considering options for participation in the consortium by various categories of non-bank institutions after the first of the year.