Company focused on Stellar blockchain buys US startup Chain

Monday 10 September 2018 13:24 CET | News

Chain, a US-based blockchain startup, has been acquired by Lightyear, a company focused on the Stellar blockchain.

The financial details of the acquisition have not been disclosed, however the negotiations started in 2017. Interstellar, the new company, will migrate Chain’s customer base and products onto Stellar’s global public ledger, creating a platform that will enable organizations to issue, exchange and manage assets.

IBM recently announced that it is launching a payment network based on the Stellar blockchain. Stellar is an open network that allows any currency or asset to be digitally issued, transferred, and exchanged over the internet.

Chain, a blockchain infrastructure company that enables organizations to build better financial services from the ground up, raised more than USD 40 million from companies such as Visa, Citi Ventures, as well as Nasdaq.

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Keywords: chain, acquisition, blockchain, Stellar, IBM, DLT, US
Countries: World