Stellar have been on a little bit of an acquisition crusade recently, pulling together partnerships left, right and centre. Partnerships go a very long way for both cryptocurrency adoption and of course the facilitation of blockchain technologies. In essence, partnerships like this exist as a trade off between sound financial backing from one entity (Stellar, in this instance) in exchange for access to innovative blockchain research and technology, which is when, in this instance, Chain come to the fore.
Chain is a US based firm who aim to make the economy more connective. Their products are focused on blockchain technologies “that underpin breakthrough financial services”. Their flagship product ‘Sequence’ is a ‘ledger-as-a-service’ that allows for the facilitation of token transfer and tracking. They also work with a virtual machine called ‘TxVM’ which is being used to describe blockchain transactions to the entire world.
You can find out more about Chain, here- https://chain.com/
According to Fortune, Stellar have bid $500 Million worth of XLM for the acquisition of Chain, though the final deal has not yet been announced, many reports are now starting to suggest that an announcement is pending very soon.
This will further enhance the growth of development of both Chain and Stellar. As a company, Stellar aren’t shy of making such headlines. As we know, Stellar have their fingers in many pies, from social media communication apps such as Kik, to working with tech giants like IBM.
Whilst we are still unclear what the full partnership between Stellar and Chain will bring, Fortune believes that at the very least, the move is a sensible one. According to Fortune:
“The pairing makes sense — Stellar has the money, and Chain has the engineering talent. One source familiar with the deal said it is likely in response to the heated battle for top developers between crypto companies. It’s still unclear how Stellar will incorporate Chain into its ecosystem, whether Chain will continue building its existing products, and whether Chain CEO Adam Ludwin will stick around.”
You can see the full report by Fortune, here- http://fortune.com/2018/06/20/stellar-acquires-chain/
So, for now, we need to keep an eye on the Stellar camp to see what materialises from this. As the news comes, we should have a better idea of not only the scale of this acquisition, but also of what it will mean for both Stellar and Chain.