Seven-month effort marked by tensions among banks assessing which projects to back.
Some early members, such as Goldman Sachs, JPMorgan and Morgan Stanley balked at being asked to invest and are planning to withdraw from the venture. Some have backed rival blockchain projects such as Digital Asset Holdings and Axoni.
many others, including Barclays, Bank of America Merrill Lynch, Credit Suisse, UBS and HSBC participated in the fundraising.