Deals
Blockchain Startup Chain Merges With Stellar to Accelerate Use
- Chain Customers said it’s hard to roll out custom blockchains
- Clients such as Visa, Nasdaq can now use Stellar’s network
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Blockchain startup Chain is being acquired by the for-profit arm of the Stellar Foundation, merging an enterprise that’s signed up big financial firms as customers with a group that publicly advocates the technology’s adoption.
Stellar’s Lightyear is making the purchase and will merge with Chain under a new name, Interstellar. It will be run by Chain Chief Executive Officer Adam Ludwin, based in San Francisco and employ about 60 people, he said in an interview. The companies didn’t disclose terms in a statement announcing the deal.