CLS, the world’s leader in FX settlement solutions, confirmed to Reuters that it’s investing $5m in R3. The company will get a seat on the board. While unconfirmed, Singapore real estate firm OUE and Japanese IT services provider TIS are each investing $5m.
“CLS is critically important to the functioning of one of the most important markets in the world,” R3’s chief executive officer, David Rutter, told Reuters in an emailed statement. “It is absolutely right that major infrastructure players like this look to technologies such as blockchain to continue making their products and services faster, easier, safer and more cost-effective for the end user.”
A year ago R3 raised $107m in a Series A round backed by more than 40 organizations, including Bank of America Merrill Lynch, HSBC, and Intel.
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