After starting as the Voltron Letter of Credit consortium, the company was incorporated in Singapore in January 2020, backed by seven global banks – Bangkok Bank, BNP Paribas, CTBC, HSBC, ING, SEB, and Standard Chartered. Enterprise blockchain company R3, Bain & Company and developer CryptoBLK were also involved from the start. All participated in the Series A+ funding with the addition of Citi and SMBC.
Apart from the nine shareholder banks, a further ten banks have joined the network and a total of 13 are live on the platform, following the transition to a production network in October 2020.
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