Distributed ledger tech company Chain has been acquired by Lightyear, which is a company build on Stellar blockchain technology. The two companies have merged and are now known as Interstellar. This was stated in a company press release.
Chain builds fintech solutions on the blockchain and is backed by financial giants like Visa, Citigroup and Nasdaq. One of its products is Sequence, which allows companies to track assets while ‘moving between private ledgers and the Stellar network’.
Stellar (XLM) is currently the sixth biggest crypto and blockchain project. The market cap is 3.7 billion USD at the time of writing, and one XLM is valued at $0.198580. Amidst a market wide drop, around the 7%, XLM ‘only’ dropped 3.59 percent in value.
Interstellar is creating financial services for commercial use. The company has its headquarters in San Francisco, and office operations in New York and Singapore.