Five more banks joins R3’s blockchain consortium

R3 announced that ING, BNP Paribas, Wells Fargo, MacQuarie and the Canadian Imperial Bank of Commerce are joining the company’s blockchain consortium.

“The combined strength of our technology team and the diverse global footprint of our member banks clearly differentiates us and puts us in a unique and exciting position within the distributed ledger space. The R3 collaborative model is the best way to quickly, efficiently and cost-effectively deliver these new technologies to global financial markets. We look forward to welcoming more players to our growing team as the initiative continues to develop and evolve,” said R3 CEO David Rutter.

Thirty banks across the world are now partnering with R3, signaling a significant commitment to collaboratively evaluate and apply this emerging technology to the global financial system.

R3 is a New York City-based financial platform.