From Investing.com:

R3 leads a $9M funding round in TEN, an encrypted Layer 2 network on Ethereum. TEN, developed by Obscuro Labs, combines speed, security, and privacy, offering a unique solution in the Web3 landscape. The platform distinguishes itself with encryption, MEV prevention, scalability, and gas efficiency, targeting a mainnet release in October. With broad support from investors and expertise from R3, TEN aims to enhance Ethereum with new features and revolutionize decentralized technologies.



Read more at Investing.com: Banking Consortium R3 Leads $9M Round in Encrypted Layer 2 on Ethereum By Chainwire