Altcoin News: Bitcoin.com Acquires Japanese Blockchain Startup O3 Labs
October 21, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Supported by crypto investor Roger Ver, Bitcoin.com acquired the Japanese blockchain startup O3 Labs, writes The Block. The company refused to disclose the transaction amount.
O3 Labs previously worked on creating applications for the NEO and Ontology blockchain systems. Now its resources will be allocated to the development of mobile applications for Bitcoin.com using the Bitcoin Cash protocol in order to expand support for financial services.
“We look forward to accelerating services in our mobile applications serving anyone in the world with an internet connection, regardless of nationality, socioeconomic status, or access to traditional finance,” said Bitcoin.com CEO Stefan Rust.
Under the terms of the agreement, O3 Labs employees will join the Bitcoin.com team. What kind of financial services they will develop is unknown. Rast only noted that they will allow users “the ability to manage, grow, and spend [money] … without the need for traditional banks or financial intermediaries.”
In September, representatives of Bitcoin.com announced that they intend to seek the listing of Bitcoin Cash futures on the Chicago Mercantile Exchange (CME).
Author: Marko Vidrih
