RATE Group | Wyre Acquires Bitcoin Smart Contract Derivatives Platform Hedgy
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Wyre Acquires Bitcoin Smart Contract Derivatives Platform Hedgy

07 Sep Wyre Acquires Bitcoin Smart Contract Derivatives Platform Hedgy

Posted at 23:38h in Bitcoin News by

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Crypto payments startup Wyre has acquired 100 percent of Hedgy, a venture-backed bitcoin smart contract development firm, for an undisclosed sum.

The deal will help Wyre broaden the scope of the services it provides to crypto startups, the company’s co-founder and COO Ioannis Giannaros told CoinDesk. Wyre provides cross-border payments using bitcoin, ethereum, litecoin and other cryptocurrencies to settle transactions.

Specifically, acquiring a smart contract platform will aid Wyre provide a wider financial ecosystem to crypto startups, according to Giannaros, with access to financial instruments such as forward contracts, swaps and more.

Wyre plans to take advantage of Hedgy’s ability to “navigate” the regulatory space, he added, explaining:

“This is a really highly regulated area, and in this sense Hedgy generally has been extremely ahead of the time. They were doing smart contract derivatives at the time ethereum wasn’t even there yet.”

As well as being a blockchain…

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