CLS Invests in R3 to Promote Blockchain for FX

CLS will join the R3 board and will help push the release of blockchain applications for currency markets.

hands blockchain partnership agreement
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CLS—which counts 70 of the largest financial institutions as members along with 24,000 third-party clients—will be joining R3’s board and have a role in the company’s business strategy, a much larger role than it had as a member of the consortium since last year.

Reports have placed the investment at $5 million; a source close to the deal says those figures are largely correct.

Both firms will work on deploying distributed-ledger technology to CLS’s members and the FX space, according to R3’s

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