New York-based blockchain startup R3 has now held preliminary discussions with representatives of Ava Labs, the Solana Foundation and Adhara, with the discussions covering options including a joint venture, a minority stake sale or an outright sale. Although its Corda technology is used by several live platforms, including the Swiss Stock Exchange's digital asset trading platform, some projects have not entered the testing phase, people familiar with the matter said. Founded in 2014, R3 focuses on developing blockchain-based systems for banks and other financial companies. It initially led a consortium of large banks focused on building blockchain systems that can run some of the most complex processes. R3 raised $122 million from more than 40 institutions in a round of financing completed in 2018, with investors including Barclays, UBS and Wells Fargo. (Bloomberg)