Millions of pounds are being invested into research into blockchain, an innovation best known for its use in allowing the distribution, verification and record keeping of Bitcoin transactions.
Chatsworth, which is a financial tech specialist agency based in London, began its ongoing brief with the banking group late last month. It will work to promote the group as a thought leader on the technology, and act as R3's secretariat, with a focus on the world's key financial centres.
R3, which counts JPMorgan, Barclays, UBS and Credit Suisse among members, is bringing together some of the best minds from cryptology, digital currencies and financial markets to better understand how distributed ledgers can improve the operations of financial markets.
Because most financial assets exist only in digital records, these digital ledgers could transform wholesale financial markets. Nick Murray-Leslie, CEO of Chatsworth, said R3 "has the potential to have a massive positive impact on global finance".
David Rutter, CEO of R3, added: "We have assembled a dream team at R3 and we are delighted that Chatsworth is part of that. Nick and his team know financial technology and markets better than anyone in their space so there was no question we were going to work with them."
