Roger Ver-led Bitcoin.com has acquired Japanese blockchain development startup O3 Labs for an undisclosed amount, the company announced on Monday.
The startup primary offers a digital asset wallet platform along with a digital application programming interface for developer support. In addition, it also developed applications for blockchains like NEO and Ontology, supporting the purchasing of digital currencies with credit cards.
The company is now expected to build applications exclusively for Bitcoin Cash.
Commenting on the acquisition, Stefan Rust, chief executive officer at Bitcoin.com, said: “With the O3 team joining Bitcoin.com, we look forward to accelerating services in our mobile applications serving anyone in the world with an internet connection.”
He also stressed that with the upcoming applications, users would have 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.”
Why Ethereum Needs Layer 2 Solutions More Than EverGo to article >>
Rust took over to lead Bitcoin.com from Ver in June, who currently serves the company as its executive chairperson. This is also the first acquisition of Bitcoin.com under the leadership of Rust.
Creating an ecosystem for Bitcoin Cash
Per the agreement between the two firms, Bitcoin.com will absorb the staffers of the Japanese blockchain startup. Apart from the two co-founders – Apisit Toompakdee and Andrei Terentiev – the startup has two software engineers, a product designer, and one business development officer.
However, it is not clear yet whether the two co-founders are joining Bitcoin.com or at which role.
Meanwhile, the company is also pushing hard to enter other crypto business areas apart from its primary focus to make Bitcoin Cash mainstream. Last month, it launched a crypto exchange, and to attract traders offered a negative trading fee for trade executions.
Bitcoin.com is also investing in many blockchain startups and has made a strong portfolio so far.