Blockchain Firm Hashcove To Be Acquired By Stater Blockchain

Announcements, Blockchain, News | January 8, 2018 By:

Stater Blockchain has announced a letter of intent to acquire Hashcove Limited, a UK blockchain firm co-founded by Kunal Nandwani.

Stater Blockchain, formerly known as Stater Holdings, is a technology company focused on developing and deploying globally scalable blockchain technology solutions in the financial markets. The company’s wholly owned subsidiary, Stater Global Markets, is a UK-regulated brokerage that facilitates market access across multiple instruments, including spot fx, digital currency futures, and contracts for difference (CFD).

Stater Blockchain intends to offer a globally compliant initial coin offering (ICO) that will be fully regulated as a security in accordance with the rules of the US Securities and Exchange Commission (SEC) and other financial regulators.

Hashcove is a technology company which develops and delivers blockchain solutions. It works extensively with both smart contracts and know-your-customer (KYC) rules. The company also boasts a customized solutions suite that includes the Cove Identity App for blockchain document verification. The company’s work deals primarily with cryptocurrency exchanges and digital wallets.

Stater Blockchain said the acquisition of Hashcove would broaden its existing development to build its own Smart Settlement and Smart KYC products.

“Kunal and his team have built advanced technology that fits with Stater Blockchain’s existing development roll out of our Smart Settlement and Smart KYC products,” said Stater Blockchain CEO Ramy Soliman. “Hashcove could help Stater Blockchain to deliver an institutional caliber product to our existing global client base.” Soliman noted that Stater Global Markets services a number of institutional broker clients. and delivers a document verification platform to them.

Additionally, Hashcove’s expertise in settlements from their experience in India can be leveraged at Stater to service tbe financial trading community.”

“We look forward to working with Stater Blockchain and have been very impressed with their plans and their unique proposition combining institutional blockchain technology with a ready-made distribution channel for the products that we have and are developing,” said Hashcove CEO Kunal Nandwani. “Working with Ramy and his team, we would also be able to refine our products to meet the massive financial services demand for Settlement and KYC blockchain-derived products that Stater has identified.”