Partager cet article
CLabs Acquires Summa to Boost Crypto Interoperability on Celo
The token startup just acquired decentralized finance (DeFi) startup Summa, best known for its interoperability work with Bitcoin and Ethereum.
Par Leigh Cuen
Make us preferred on Google
It was a match made in Silicon Valley heaven. The token-funded startup cLabs just acquired the decentralized finance (DeFi) startup Summa, best known for making wrapped Ethereum tokens that can represent locked amounts of bitcoin.
The acquihire bolsters cLabs’ multifaceted engineering team, which specializes in Bitcoin, Zcash and Cosmos projects in addition to Celo software projects.
STORY CONTINUES BELOW
Ne manquez pas une autre histoire.Abonnez vous à la newsletter Crypto Daybook Americas aujourd. Voir toutes les newsletters
Marek Olszewski, chief technology officer of cLabs, said the newcomers will help the Celo community “execute on the platform’s interoperability vision.”
“Over the last two years we’ve built the interoperability space from scratch. We’re excited to continue that work with Celo,” said Summa co-founder James Prestwich, whose startup was acquired for an undisclosed amount.
Read more: Investors on CoinList Pour $10M Into Celo Token Sale in Roughly 12 Hours
With the addition of six people from Summa, cLabs’ Olszewski said there are now 100 people on staff. Along those lines, cLabs engineer Tim Moreton said the goal is to make sure people with established roles in different crypto projects are involved with the Celo community as well.
Moreton added the priorities for 2020 are smoothing value transfers in and off of the Celo platform, including value from Bitcoin or Ethereum, and getting the Celo mobile app “into the hands of thousands and thousands of people … who don’t have cheap or easy access to financial services, but they do have access to a smartphones.”
CLabs has raised more than $40 million so far, through a combination of venture capital and token sales. Much like Facebook’s dwindling Libra project, Celo’s stated goal is boosting financial inclusion in emerging markets. The startup has remote staff working in Latin America, Asia and Africa, in addition to the team in California.
Zack Voell contributed reporting.
Plus pour vous
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
Ce qu'il:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
Plus pour vous
Millions in crypto wealth at risk of vanishing when holders die. Here's how to protect it
Without proper planning, inherited crypto can easily be lost to delays, missing keys or fiduciaries unfamiliar with the asset class, experts warn.
Ce qu'il:
- Crypto holders can take a few steps to prevent their assets from disappearing forever when they pass away.
- Without proper planning, inherited crypto can easily be lost to probate delays, missing private keys, or fiduciaries unfamiliar with the asset class.
- Even with improved regulatory clarity, crypto adds complexity beyond what many in the advisory space are accustomed to.
Top Stories
