Goldman Sachs has reportedly elected not to renew its membership in blockchain consortium R3CEV.
In response to the departure, R3 has said that exits among members are to be expected over time.
A spokesman told the Journal:
Adding new pressures to the partnership may be that the consortium startup is currently seeking funding from members, and that there have been disagreements over how much equity the firm should receive given that it also collects membership fees.
Documents obtained by CoinDesk dated in October indicate the banks involved are seeking for the equity structure to be similar to past financial consortiums (where equity could be as low as 10%), while R3 has asked for up to 40% of the company, including 10% equity for employees.
Negotiations have been ongoing for months, though sources have offered varying estimations of their progress.