Bitcoin wallet software provider GreenAddress acquired by Blockstream

Investing | August 1, 2016 By:

Blockstream, a blockchain technology firm, announced it has acquired European bitcoin wallet provider GreenAddress for an undisclosed sum.

Following the acquisition, GreenAddress Wallet’s team of three developers will continue to work on privacy and security bolstering features for the wallet as well as compatibility for sidechains, a bitcoin infrastructure component that Blockstream has raised $76m in two investment rounds to engineer.

“Blockstream is not just going to need some node service that provides some functionality, but it’s also going to need an interface, a wallet. It will provide an integrated solution for Blockstream customers,” said GreenAddress founder and CEO Lawrence Nahum.

According to Blockstream it does not intend to begin the mass acquisition of companies in the bitcoin or blockchain technology space, but after collaborating extensively for almost two years, combining was the logical step.