Enterprise blockchain software firm R3 has reaffirmed its commitment to London, doubling the size of its London Wall hub to accommodate a rapidly-growing engineering team.

The extra space will also support an “aggressive hiring plan” to increase the company’s global headcount from its current level of 215 to nearly 300 by the end of the year. Of this, over half of the new hires will be in the London office, with more than 40 new recruits being made in the capital.

The firm’s roster of new hires will consist largely of software engineers, along with commercial and client-facing roles around the world.

This initiative is part of R3’s rapid growth plans, that include an additional engineering centre in a new city by the early of 2020. It is currently evaluating the best location for the second site and will make that selection in the coming months.

London has gained a reputation as a global technology hub and last year, despite the ongoing uncertainty of the Brexit negotiations, attracted more foreign direct investment than any other city, pointed out a statement from the business.

Chief executive David E. Rutter said that there is an “enormous opportunity” for London post-Brexit.

“While there clearly remain some uncertainties, we believe the city is well placed and established to thrive in the coming years; that’s why we are confident in making this substantial long-term commitment now,” he stated.

“It makes complete sense to look to London as we further develop the ways that blockchain can be developed and deployed - as our software gains more use cases and across more sectors, we will be looking to invest further in top talent - London and elsewhere.”

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