Blockchain startup Hyperledger has won the Innotribe Startup Challenge at Sibos conference, walking away with a reported $50,000 in prize money.

The team, acquired by Blythe Masters' Digital Asset Holdings earlier this year, made their pitch onstage alongside 11 early-stage finalists including crypto remittance platform Bitspark.

— Innotribe (@Innotribe) October 14, 2015

Launched in 2011 by Swift, Innotribe seeks to bridge the gap between the financial services industry and startups, finding products that could potentially disrupt current business models.

Hyperledger's win comes after the startup pitched its business ideas during the American leg of the competition, held in New York, in June.

The startup beat a total of 60 semi-finalists who competed in regional showcases held in London, Singapore and Cape Town earlier in the year.

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