Bitcoin.com has acquired O3 Labs, the Japanese blockchain developers and will absorb the team, as the company announced on October 21 (Monday).
Stefan Rust, the CEO of Bitcoin.com, said that the deal, which began in talks a few months ago and closed recently for an undisclosed sum, will see O3 Labs’ eight-person developer team integrate into Bitcoin.com’s 30-person engineering team.
https://t.co/KnJW5329Vy Acquires Japanese Blockchain Developer 03 Labs https://t.co/1ndQA4teCo — https://t.co/KnJW5329Vy has acquired Japanese blockchain developers O3 Labs and will absorb the team, the company announced Monday. The deal,… — Crypto Asset Home (@cryptoassethome) October 22, 2019
However, they will begin working on applications to support the Bitcoin Cash Network. Roger Ver, the Executive Chairman of Bitcoin.com, whose early bet on Bitcoin and subsequent crypto evangelism earned him the nickname “Bitcoin Jesus”, is a major promoter of Bitcoin cash.
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Rust also told that the partnership is going to play into Bitcoin.com’s goal of opening up global finance and wallet functionality.
In a statement, he also said:
“The partnership will give users the ability to manage, grow, and spend while doing business with whomever they want, whenever they want, without the need for traditional banks or financial intermediaries.” Stefan Rust
“We look forward to accelerating services in our mobile applications serving anyone in the world with an internet connection”—Stefan Rust I‘m looking forward to even serve those without internet. As long as one party is online, payments should Just Work™https://t.co/9ZsHPbNc5R — Tobias Ruck (@TobiasRuck) October 21, 2019
When asked for the specific projects, Rust declined by saying that O3’s members would now work on. He also said that projects including a wallet “privacy mode” and integration of simple ledger protocol tokens that pay holders dividends, were in the works.
He added:
“I think you can see some interesting innovations in our wallet within the next 2-3 months.” Stefan Rust
The statement also said that the O3 team has previously built NEO and Ontology blockchain applications.
Source: coindesk.com
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