🔗 Chain acquired by Stellar linked startup

Enterprise-focused blockchain company Chain has been acquired by Lightyear, a for-profit subsidiary of the Stellar Development Foundation. Though the terms of the deal were not disclosed Chain co-founder Adam Ludwin noted that the acquisition was for "significantly more" than the $40 million the company had raised from investors like Visa, Nasdaq, and Citi Ventures. Ludwin will be named CEO of the combined company, which will change its name to Interstellar, while Stellar creator Jed McCaleb will take the role of CTO. The move comes after Chain found a need to use public blockchain infrastructure and briefly considered launching its own public network. Current clients and staff will transition to Interstellar as the company moves to integrate the Stellar blockchain and Lumens ($XLM) cryptocurrency into its tech stack.