Bitcoin.com Acquires Japanese Blockchain Developer 03 Labs

The deal, which closed recently for an undisclosed sum, will see O3 Labs’ eight-person developer team integrate into Bitcoin.com.

Oct 22, 2019 at 8:30 a.m. UTC
Updated Sep 13, 2021 at 11:36 a.m. UTC

Bitcoin.com has acquired Japanese blockchain developers O3 Labs and will absorb the team, the company announced Monday.

The deal, which began in talks a few months ago and closed recently for an undisclosed sum, will see O3 Labs’ eight-person developer team integrate into Bitcoin.com’s 30-person engineering team, CEO Stefan Rust told CoinDesk.

They will begin working on applications to support the bitcoin cash network. Bitcoin.com’s Executive Chairman Roger Ver, whose early bet on bitcoin and subsequent crypto evangelism earned him the nickname “bitcoin jesus,” is a major promoter of Bitcoin cash.

Rust told CoinDesk that the partnership will play into Bitcoin.com’s goal of opening up global finance and wallet functionality.

In a statement, he also said the partnership “will give users the ability to manage, grow, and spend while doing business with whomever they want, whenever they want, without the need for traditional banks or financial intermediaries.”

When asked for the specific projects O3’s members would now work on, Rust declined, saying only that projects including a wallet “privacy mode” and integration of simple ledger protocol tokens that pay holders dividends, were in the works.

“I think you can see some interesting innovations in our wallet within the next 2-3 months.”

The O3 team has previously built NEO and Ontology blockchain applications, the statement said.

Japanese market with lanterns image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Coinbase Pares Back Hiring Plans Amid Weak Earnings, Poor Market Condition

The exchange previously planned to hire as many as 2,000 employees earlier this year.

The exchange previously planned to hire as many as 2,000 employees earlier this year.

2
Bitcoin Mining Appears to Have Survived Ban in China

From September 2021 to January this year, China's contribution to the bitcoin mining network was second only to that of the U.S.

From September 2021 to January this year, China's contribution to the bitcoin mining network was second only to that of the U.S.

3
BitMEX Starts Spot Exchange on Eve of Co-Founder Hayes' Sentencing

BitMEX co-founders Arthur Hayes and Ben Delo will be sentenced for violation of the Bank Secrecy Act on Friday.

BitMEX co-founders Arthur Hayes and Ben Delo will be sentenced for violation of the Bank Secrecy Act on Friday.

4
Terra’s LUNA Gains, Then Slides, After Do Kwon's Fork Proposal

Traders sold the tokens even as founder Do Kwon proposed a separate chain to make up for last week’s implosion of UST.

Traders sold the tokens even as founder Do Kwon proposed a separate chain to make up for last week’s implosion of UST.