New York Blockchain Business ConsenSys Acquires Fluidity

New York Blockchain Business ConsenSys Acquires Fluidity

Blockchain
May 27, 2020 Komal Joshi
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Following a joint venture in the two companies, ConsenSys has obtained the team and technology behind Brooklyn blockchain start-up Fluidity. New York-headquartered blockchain start-up ConsenSys declared that it had acquired the team and technology after Fluidity, which is a Brooklyn-based blockchain technology company. ConsenSys, which also has an office in Dublin, was established in 2014
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Following a joint venture in the two companies, ConsenSys has obtained the team and technology behind Brooklyn blockchain start-up Fluidity. New York-headquartered blockchain start-up ConsenSys declared that it had acquired the team and technology after Fluidity, which is a Brooklyn-based blockchain technology company.

ConsenSys, which also has an office in Dublin, was established in 2014 by CEO Joseph Lubin. In a statement about the deal, the company revealed that Fluidity is the primary developer of AirSwap, allowing peer-to-peer trading on the Ethereum blockchain. AirSwap was established as a joint venture among ConsenSys and Fluidity in 2017.

Fluidity has also provided solutions for real-estate tokenization, tokenized securities trading, and systems to guarantee real collateral to decentralized credit platforms. Financial terms of the acquisition were not revealed.

The acquisition

ConsenSys stated that the Fluidity team would proceed to create AirSwap with the assistance of the acquiring company’s business development, engineering, and marketing teams. ConsenSys Codefi will also leverage Fluidity’s technology to power commerce and decentralized finance.

In its statement, ConsenSys stated: “As part of the acquisition, the Fluidity team and its products will transition to ConsenSys. The blockchain engineers and fintech experts behind AirSwap will continue to empower the world with frictionless trade by focusing on network growth and new token mechanisms.”

Lubin stated that bringing Fluidity fully into ConsenSys will “unlock powerful synergies” that the companies have recognized over the past few months, seeing at different niches that they can come up with at scale. “We are excited to reinvigorate the longstanding close relationship,” he added.

ConsenSys stated that the acquisition indicates that it is extending its core product suite to bring to market innovations in financial infrastructure built on Ethereum. Michael Oved, CEO and co-founder of Fluidity, added: “The future is bright for decentralized trading, blockchain technology and upgrading legacy financial infrastructure. Together with ConsenSys, the power of our systems can be fully realized.

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