Cryptocurrencies
Wall Street-Backed Blockchain Company Weighs IPO, Sale
- Developer R3 hasn’t made final decision about future ownership
- Investors including CEO, BofA will decide company’s course
Photographer: Ammna Mir/EyeEm via Getty Images
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R3, a blockchain-software company that works with more than 200 heavyweights such as Intel Corp., Microsoft Corp., US Bancorp and Wells Fargo & Co., is considering going public, according to people familiar with the matter.
The company is speaking with advisers about an initial public offering, although no final decisions have been made, said the people, who asked not to be identified because the deliberations are private. It has also been approached by potential buyers, one person said. Founder and Chief Executive Officer David Rutter, along with R3 investors such as Intel and Bank of America Corp., will decide its course.