[2017-05-23] Mint: BofA, HSBC, Intel, others invest $107 million in R3

BofA, HSBC, Intel, others invest $107 million in blockchain startup R3

http://www.livemint.com/Companies/wN9XkmpNScPzcFGYvCSYMN/BofA-HSBC-Intel-others-invest-107-million-in-blockchain.html

Financial and technology companies led by Bank of America Corp, SBI Holdings Inc , HSBC Holdings Plc, Intel Corp and Temasek Holdings have invested $107 million in R3 CEV, a startup which runs a big bank consortium seeking to develop blockchain technology, it said on Tuesday.

Over 40 institutions from more than 15 countries participated in the first two tranches of the New York company’s fundraising round, making it one of the largest investments in a blockchain company to date, R3 said in a statement.

The third and final tranche will open later this year.