Lightyear, a company focused on the Stellar blockchain, has bought technology startup Chain for an undisclosed price. The companies will be combined to form a new company, Interstellar.
The new company will be led by Chain CEO Adam Ludwin, who becomes CEO, and Jed McCaleb, the creator of the Ripple and Stellar protocols, who will be acting CTO.
Ludwin told Reuters the new company will move Chain’s customer base and products onto Stellar’s global public ledger, creating a platform that will enable organizations to issue, exchange and manage assets.
Ludwin said the transaction, which had been in negotiations since late last year, closed last week and Chain’s investors were cashed out. Read more here.