R3 to expand Corda platform
29 March 2019 London
Image: Shutterstock
R3 is planning to expand its Corda platform after gaining momentum across various industry sectors.
The firm has also reorganised its corporate structure to best support aggressive hiring in all areas. It suggested that its partner community (including central banks and regulators) has grown so quickly that they’re expanding the team in support of it.
The update from R3 explained that at its quarterly board meeting in early March, it took the new step towards leveraging “our strong capital base to position us as the blockchain for business for the long term”.
The board also approved the creation of a dedicated corporate development function. According to R3, it will be tasked with “supporting early-stage companies building on the Corda platform; and exploring a variety of potential joint venture, acquisition, and related activities focused on later stage companies aligned with R3’s vision”.
Fred Dalibard, R3 board chairperson, commented: “The board has approved R3’s strategy creating a robust internal corporate development function that will deploy capital to support and accelerate ventures.”
“We are presented each and every day with the chance to help companies at various stages of growth, and now is the time to take advantage of those opportunities. This is a critical time in the blockchain industry, and given the massive potential for the Corda ecosystem to expand rapidly, this function will help enable the next phase of R3’s development.”
“We had earlier explored the idea of launching an outside fund built with R3 capital and supplemented with third-party investment focused on the same goals with early-stage companies.”
Dailbard added: “Yet after careful consideration, and especially in light of the financial strength of R3, we determined that we would accomplish these objectives more rapidly and with a more streamlined process by doing it ourselves.”
The firm has also reorganised its corporate structure to best support aggressive hiring in all areas. It suggested that its partner community (including central banks and regulators) has grown so quickly that they’re expanding the team in support of it.
The update from R3 explained that at its quarterly board meeting in early March, it took the new step towards leveraging “our strong capital base to position us as the blockchain for business for the long term”.
The board also approved the creation of a dedicated corporate development function. According to R3, it will be tasked with “supporting early-stage companies building on the Corda platform; and exploring a variety of potential joint venture, acquisition, and related activities focused on later stage companies aligned with R3’s vision”.
Fred Dalibard, R3 board chairperson, commented: “The board has approved R3’s strategy creating a robust internal corporate development function that will deploy capital to support and accelerate ventures.”
“We are presented each and every day with the chance to help companies at various stages of growth, and now is the time to take advantage of those opportunities. This is a critical time in the blockchain industry, and given the massive potential for the Corda ecosystem to expand rapidly, this function will help enable the next phase of R3’s development.”
“We had earlier explored the idea of launching an outside fund built with R3 capital and supplemented with third-party investment focused on the same goals with early-stage companies.”
Dailbard added: “Yet after careful consideration, and especially in light of the financial strength of R3, we determined that we would accomplish these objectives more rapidly and with a more streamlined process by doing it ourselves.”
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