Enterprise blockchain leader R3 establishes new R&D hub in Bulgaria

Partnership with INDUSTRIA will create new product development and professional services roles.

R3's London headquarters

Together with our partners R3, we have opened its first R&D hub in Eastern Europe, situated in Bulgaria, as part of its continued expansion plans. The Sofia-based team will work with R3’s engineers in London, Dublin, New York, and Singapore and contribute knowledge and skills to the ongoing development of R3’s Corda and Conclave platforms. 

The hub is being launched as a partnership with INDUSTRIA, which will manage the hiring and promotion of the initial job openings. Many of the new roles will be software engineers, along with commercial and client-facing roles.

Bulgaria’s fintech ecosystem continues to grow. Despite the challenges posed by the pandemic, the total operating revenue of Bulgarian fintech companies reached an all-time high in 2021 at over USD 800 million. INDUSTRIA and R3’s partnership is aimed at leveraging the local talent pool to continue expanding its blockchain and confidential computing-based solutions. 

More than 400 of the world’s largest financial services firms, technology companies, central banks, regulators, and trade associations are building their applications on R3’s Corda platform. The growth of the engineering team in R3’s new Bulgarian R&D hub will ensure that these businesses can continue to deploy blockchain solutions simply and successfully.

David E. Rutter, CEO at R3, said: "Enterprise blockchain is being deployed by some of the world’s largest financial services companies, and R3 is at the forefront of this revolution. At our core, we are a people and technology company, and we recognize that continued investment into our personnel is critical to our success. We chose Bulgaria because of its burgeoning fintech sector and deep pool of technical talent. We’re delighted to build on our partnership with INDUSTRIA and look forward to building a strong presence in Sofia.”

Petko Karamotchev, CEO of INDUSTRIA, said: “We are extremely excited. R3’s platforms have been a cornerstone of our solutions for years, and now we have the opportunity to work more closely with its engineers and even influence new products. We are confident that this new R&D hub will foster a new direction where both companies can improve the global fintech landscape.” 

About INDUSTRIA

INDUSTRIA is a global technology consulting, development, and ventures company with expertise in the field of enterprise blockchain, confidential computing, process automation, and digital experience. As one of the official partners of R3, we are implementing cutting-edge blockchain technologies and reshaping the fintech world.

At INDUSTRIA, we are focused on providing permissioned blockchain solutions, such as Central Bank Digital Currencies, Electronic Bill of Lading, and Smart Legal Contracts. Our solutions apply to a wide range of industries and use cases to empower and modernise society.

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About R3

R3 is a leading provider of enterprise technology and services that enable direct, digital collaboration in regulated industries where trust is critical. Multi-party solutions developed on our platforms harness the “Power of 3”— R3's trust technology, connected networks and regulated markets expertise—to drive market innovation and improve processes in banking, capital markets, global trade and insurance.

As one of the first companies to deliver both a private, distributed ledger technology (DLT) application platform and confidential computing technology, R3 empowers institutions to realize the full potential of trusted direct collaboration. We maintain one of the largest DLT production ecosystems in the world connecting over 400 institutions, including global systems integrators, cloud providers, technology firms, software vendors, corporates, regulators, and financial institutions from the public and private sectors. For more information, visit www.r3.com or connect with us on Twitter and LinkedIn. If you want to join R3 Bulgaria - https://dev.bg/company/r3/#jobs