Distributed ledger startup R3CEV announced the addition of three new banking partners to its blockchain project last week, raising the total number of banks involved to 25. The list of partners includes banking giants such as Goldman Sachs and Santander, both of which have already dipped their toe in the world of crypto through investments in Circle Internet Financial and Ripple, respectively. For some of the other banks, this partnership with R3 marks their debut in the increasingly trendy distributed ledger space, which is broadly seeking to apply the underlying technology of bitcoin to use cases for enterprise financial institutions who have expressed reservations about working on the bitcoin network. Though critics are quick to assert the potential long-term benefits of a global distributed ledger, R3's banking partners are currently working with the startup on alternatives.

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