Bitcoin.com Acquires O3 Labs for BCH-Specific App Development

Monday, 21/10/2019 | 09:19 GMT by Arnab Shome
  • Neither the companies disclosed the involved figure in the deal.
Bitcoin.com Acquires O3 Labs for BCH-Specific App Development
Roger Ver, known as Bitcoin Jesus, in Tokyo (Bloomberg)

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.”

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.

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.”

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.

About the Author: Arnab Shome
Arnab Shome
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6353 Articles
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