Investors continue to flock to the blockchain, and the latest to find financial support hails from one of the technology capitals of the world. Blockstack, based in San Francisco, is reportedly set to be acquired by Digital Asset Holdings for an undisclosed sum.
The buyout, announced Thursday (Oct. 29), means Digital Asset will own the blockchain-as-a-service startup that provides financial service providers with the capabilities to use the ledger technology and develop applications on it.
[bctt tweet=”Digital Asset will own blockchain-as-a-service startup Blockstack.”]
According to Digital Asset, Blockstack is still in beta phase but is already working with FinServ firms, providing APIs and software development kits over the blockchain. The startup also offers open source and proprietary tools that allow financial service providers to develop their own private blockchain, Digital Asset said.
“Blockstack is building powerful blockchain application development tools, and Digital Asset is the best platform to deliver these as part of a comprehensive client solution,” said Blockstack Founder and Chief Technology Officer Miron Cuperman in a statement.
Digital Asset will reportedly integrate Blockstack’s tools into its own product offerings.
“Digital Asset’s technical approach is very complimentary, and the combined firm will have the leadership and resources to scale its platform,” said Blockstack CEO Peter Shiau.
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