CLS is a US based settlement provider and so far they have made a $5 million investment in R3, which is an enterprise start-up for blockchain. When you look at the press release, you will see that the new deal will see CLS on the board of directors and this is very interesting to say the least. It is the goal of CLS to try and work with other members of the startup to try and explore how it can move forward to provide transformative based solutions. This is going to be for the Forex industry and the firm’s own chief strategy and development officer has confirmed this. Of course, the firm are going to work hard to try and put a particular focus on Corda and this is R3’s own enterprise platform.
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This investment is the third tranche of the fundraising efforts that started out last year and the start-up also managed to raise a $107 million investment from a ton of notable firms. This actually included the SBI group, HSBC and even the Bank of America.
CLS really is critical to the emerging market and with an infrastructure like this, it is now more important than ever for companies to start looking at blockchain and the benefits that come with it. The ultimate goal is to try and make products both easier and faster, not to mention that the idea is to also try and make everything much safer as well.
CLS really is taking a multiple-vendor approach to the whole thing and this is especially the case when it comes to both blockchain and DLT. That being said, they really are working closely with Hyperledger Fabric and IBM to try and add new currencies. They are also working on the CLS platform as well and this is incredible to say the least.