Share this article
Goldman Sachs Leaves R3 Blockchain Consortium
One of R3CEV's initial members isn't renewing its agreement with the world's largest blockchain consortium.
By Stan Higgins
Updated Sep 11, 2021, 12:37 p.m. Published Nov 21, 2016, 1:25 p.m.
Goldman Sachs has reportedly elected not to renew its membership in blockchain consortium R3CEV.
According to The Wall Street Journal, the bank has left the group, but notably intends to continue developing blockchain projects on its own. (Goldman Sachs is an investor in blockchain technology startups Circle and Digital Asset Holdings).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In response to the departure, R3 has said that exits among members are to be expected over time.
A spokesman told the Journal:
"Developing technology like this requires dedication and significant resources, and our diverse pool of members all have different capacities and capabilities which naturally change over time."
Adding new pressures to the partnership may be that the consortium startup is currently seeking funding from members, and that there have been disagreements over how much equity the firm should receive given that it also collects membership fees.
Documents obtained by CoinDesk dated in October indicate the banks involved are seeking for the equity structure to be similar to past financial consortiums (where equity could be as low as 10%), while R3 has asked for up to 40% of the company, including 10% equity for employees.
Negotiations have been ongoing for months, though sources have offered varying estimations of their progress.
Exit sign image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
