R3, an enterprise software firm leading a blockchain consortium of over 200 organisations, has secured an investment from a Japanese IT corporate group TIS.
The announcement comes on the heels of $5M investment from CLS last month. In addition to the investment, TIS has firmed up its business collaboration with R3.
According to the official release, the collaboration is aimed at boosting the global development and adoption of blockchain applications by leveraging the strengths and maturity of R3’s Corda blockchain platform.
Through this partnership, TIS members would be able to access R3’s work in blockchain technology. Importantly, TIS and its group companies in APAC would be able to deliver Corda platform services and Corda applications designed specifically to meet the needs of client institutions across the financial services sector and other industries.
“This investment is testament to the potential that major IT companies such as TIS see in Corda. We are experiencing growing support for Corda not just from the financial services community, but from a diverse mix of technology firms serving an expanding range of industries. These firms are building innovative apps on the platform that enable them to unlock new value for themselves and transform business processes for the sectors they serve,” David E. Rutter, CEO of R3, said.
Launched in September 2015, R3 is leading a blockchain consortium of leading banks, financial institutions, regulators, trade associations, professional services firms, and technology companies. In May 2017, it announced the completion of the first two of three tranches in its Series A fundraising round, securing $107 million.
