Mass media company Thomson Reuters has become the latest member of the R3 blockchain consortium.

The firm announced today that it had joined the effort, which has seen dozens of banks and finance firms collaborate to explore the technology. Recent members include Absa Bank, one of South Africa’s largest banks, and Toyota Financial Services, the financial arm of Toyota Motors.

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Mark Rodrigues, managing director for strategic customers and solutions, said in a statement:

"The opportunities afforded by this emerging technology are enormously exciting for us and for our customers, and our goal with R3 is to collaborate together with the consortium and our customers in these key industry discussions as we shape the future of financial transactions."

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Thomson Reuters has spent much of the past two years conducting an exploration of blockchain applications on its own, and its entrance into the R3 consortium will likely compliment those efforts.

For more on Thomson Reuters and its blockchain strategy, read our latest interview here.

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