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cLabs Announces Acquisition of Leading Cross-Chain Architecture Firm Summa, Strengthening the Celo Ecosystem

Summa’s technical expertise in cross-chain architecture will enable seamless interoperability between Celo and various layer-one blockchains

Today we’re thrilled to announce the acquisition of the foremost blockchain interoperability firm Summa, to enable cross-chain bridges between Celo and various other blockchains.

Summa, backed by Polychain Capital, INBlockchain, and Naval Ravikant, among others, is a contributor to the Bitcoin, Ethereum, Cosmos, and Zcash ecosystems. The high-specialized engineering team is behind the cross-chain architecture that drives tBTC and brings with them a proven track record of innovation in blockchain interoperability, as well as extensive knowledge of blockchain architecture. The addition of Summa’s expertise in interoperability will allow cLabs to bring additional support to the Celo chain, enabling further diversification and decentralization of the Celo Reserve in a fully-permissionless way and improving both the security and user experience of the Celo Platform.

“Summa has shown itself to be among the best teams focused on cross-chain bridges in crypto. We are thrilled to have them join the Celo community to develop and execute on the platform’s interoperability vision.” — Marek Olszewski, CTO of cLabs

“Celo’s mission to create conditions of prosperity for all aligns with our team’s values and we look forward to the new possibilities and advancements that will undoubtedly stem from this new opportunity.” — Barbara Liau, Founder at Summa

The acquisition of Summa is expected to contribute to adoption of Celo as the technology is bridged to the broader crypto ecosystem.

Read Summa’s announcement

About the Summa Founding Team

Barbara Liau

Founder at Summa. Formerly developer at Storj and public relations for the US Army. Expertise in user interface development and intuitive user experience design. Overseeing front-end development, web development, and user experience.

James Prestwich

Founder at Summa. Formerly founder and COO at Storj. Advised on and contributed to a number of prominent projects in the space. Expertise in cross-chain system design. Overseeing product development, integrations, and open-source projects.

Matthew Hammond

Founder at Summa. Formerly head of marketing at Storj and enterprise marketing at Adobe. Background in structured finance. Expertise in marketing strategy, product management, and business development. Overseeing product strategy, marketing, and business development.

You can learn more about Summa’s achievements at medium.com/summa-technology as well as their extensive cross-chain toolkits at github.com/summa-tx.

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Celo is a carbon-negative, L1 protocol with a rich ecosystem of global partners building Web3, mobile-first applications to create a more accessible and inclusive global financial system. Visit celo.org to learn more about the Celo community, contributors, and technology.

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cLabs

cLabs

Building financial technology to enable prosperity of all beings. cLabs started Celo in 2018 and is one of many contributors to the open source project.

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