The R3 consortium is launching an initial public offering (IPO) as reported by Bloomberg in an exclusive report.
According to Bloomberg, a source told that the company is in conversation with the advisers, still, there is no final decision but the buyers have already shown their interest in the sale.
R3 is working on applications based on blockchains to deploy fast money transactions and loan with new features. Businesses involving in R3 also includes ABN Amro Group NV, Barclays Plc, Bain & Co., Bank of New York Mellon Corp. and Deutsche Bank AG.
The company stated -
“We’re not surprised about the speculation has given the success of Corda, but an IPO is not a path we’re pursuing at this time. Our mission from the start was to deliver a blockchain solution for the widest possible business community, and any decision we make will have that goal in mind.”
In the recent past R3 has released a new version of its Corda blockchain platform with unique Blockchain Application Firewall for businesses.
The officials of R3 stated that the company is not commenting on profitability but is already seeing “significant revenue.”
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