The Company Lightyear.Io Has Acquired The Startup Chain
The long-awaited acquisition finally came to fruition. The start-up Chain, which attracted $ 40 million with the participation of companies such as Visa and Nasdaq, was acquired by Lightyear.io, a developer of the Stellar protocol.
The deal was concluded last Thursday, but it is known about it only today. Two companies now form a single organization called “Interstellar.” The new company will transfer existing network users to the stellar platform and allow organizations to issue, exchange and manage assets. The organization will be headed by the former partner of RRE Ventures Adam Ludwin, who joins the CEO position, and the creator of the XRP and Stellar protocols, Jed McCaleb, who will act as technical director.
The companies did not disclose the financial details of the acquisition, but Chain claims that this is a “good result.”
Lightyear was founded by the Stellar Development Fund (SDF) in May 2017 to integrate the business with the Stellar protocol and serve as a non-profit organization. Despite the fact that Lightyear has separated from the Stellar Development Fund (SDF) and shares the same founding team, it is a separate organization with its own Board of Directors.