RATE Group | Visa-Backed Blockchain Firm Embraces Stellar Cryptocurrency Via Merger
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Visa-Backed Blockchain Firm Embraces Stellar Cryptocurrency Via Merger

11 Sep Visa-Backed Blockchain Firm Embraces Stellar Cryptocurrency Via Merger

Posted at 00:02h in Cryptocurrency News by

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Interstellar co-founders

Interstellar co-foundersInterstellar

The for-profit subsidiary of the Stellar Development Foundation has purchased Chain, a venture backed blockchain startup with some of the biggest names in enterprise adoption among its customers.

As part of the all-cash deal for an undisclosed amount, San Francisco-based Chain’s existing investors, including Visa, Nasdaq and Citi Ventures, will all receive a return on their investment, according to Chain co-founder Adam Ludwin.

But from a larger perspective, the deal stands out for being some of the clearest evidence yet of the blurring of the once-firm division between private, enterprise blockchain solutions and public blockchains supporting a native cryptocurrency.

“All of the clients that we have now have effectively shifted from using a traditional database model to using a tokens model, issuing assets on a local environment,” said Ludwin, who is CEO of the newly formed Interstellar. “By partnering with Stellar you can fire an asset to…

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