Digital Asset Holdings is to acquire Blockstack, a San Francisco-based company that offers a “blockchain-as-a-service” to enable financial institutions to develop applications on a private blockchain.
The amount of the deal was not disclosed. Following the acquisition, the two companies will integrate their product offerings.
Led by Miron Cuperman, CTO and founder, and Peter Shiau, CEO, Blockstack offers a hosted platform for financial institutions to develop blockchain-based applications using application programming interfaces (APIs) and software development kits (SDKs).
The platform, which is available in beta, leverages both open-source and proprietary technologies to create a private blockchain that is used by a group of
Customizable solutions include multi-signature security and the ability to plug in external components.
Led by Blythe Masters, CEO, Digital Asset develops technology for existing financial infrastructure, which leverages cryptographic, distributed ledgers to allow efficiency, transparency, compliance and settlement speed.
The company operates offices in New York, Tel Aviv and Budapest.