The Large Credit Union Coalition (LCUC), a Canada-based group of credit unions, is the latest to join the global blockchain consortium led by enterprise software firm R3.

LCUC is a group comprising the CIOs of the 16 largest credit unions in Canada, representing over $125B in assets. It aims to promote innovation and technology in the domestic credit union system.

R3’s global network counts over 200 banks, financial services firms, technology companies, central banks, regulators, and trade associations. LCUC will join the consortium members to develop on Corda, R3’s blockchain platform designed specifically for businesses. Earlier this month, R3 launched “Corda Enterprise” – the commercial version of its Corda blockchain platform.

“The LCUC is thrilled to be working with R3 and exploring the distributed ledger technology space more closely, building on some of our members’ successes with the technology. The wealth of knowledge and possible use cases we can dive into in short order were among some of the key reasons we felt partnering with R3 was the right choice for us,” Yves Auger, CIO at Servus Credit Union, said.

Last month, reports floated in the media about R3’s alleged financial troubles. R3 CEO David E. Rutter issued an official statement on the matter, claiming that R3 is well-funded and has raised over $120 million from more than 45 institutions and brought in over $20 million in revenue.

More recently, reports also suggested that the firm was considering going public, to which R3 responded saying that “an IPO is not a path we’re pursuing at this time.”