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SEB takes part ownership in blockchain company R3

First Published 24th May 2017

SEB takes part ownership and becomes the biggest Nordic investor in newly formed blockchain company R3.

David Sonnek, SEB Ventures

David Sonnek, SEB Ventures

Nordic corporate bank SEB has taken part ownership and has become the biggest Nordic investor in newly formed blockchain company R3.

SEB has, since 2015, been a member of the Distributed Ledger Group (DLG), an international banking cooperation connected to a technical platform developed by the American blockchain company R3.

Work so far has been in the form of a fee-based collaborative consortium, but this is now being replaced by ownership in a newly formed holding company. R3 as well as over 40 investors, representing an equal geographic split across Europe, Asia-Pacific and the Americas.

David Sonnek, SEB Ventures said: "We see a clear business value in being on this platform, which has the potential to become part of a new global infrastructure. This is something that we as an individual bank cannot develop ourselves."