Blockchain Startup Blockstack Partners With Crypto Wallet Blockchain.combr>
Cryptocurrency wallet provider Blockchain.com has teamed with Blockstack to integrate its native token, called Stacks (STX), into Blockchain.com’s full suite of products for retail and institutional users.
Founded in 2011, Blockchain.com is currently the provider of the world’s most popular bitcoin wallet and the most widely used bitcoin APIs. Blockchain.com currently has 30 million wallet users in over 140 countries.
Blockstack is a new Internet for decentralized apps that users access through the Blockstack browser. Blockstack is both an open source project and a Public Benefit Corporation (PBC), which focuses on developing the core protocols and pushing the decentralized Blockstack computing network forward. The privacy-centric network is pioneering applications that return online data ownership to consumers. The company made history by conducting the first SEC-qualified token offering in the US, raising over $23 million in two separate token offerings, from more than 4,500 individual investors and entities.
The integration will reportedly allow Stacks to become available on all of Blockchain.com’s products, including its Wallet, blockchain explorers, OTC and institutional lending desks, custody solutions, and crypto exchange, The PIT.
“Blockstack has methodically built an impressive network for the future of decentralized finance, applications, and identity,” said Peter Smith, Co-founder and CEO of Blockchain. “We look forward to not only expanding the number of Stacks holders, but also handing them the keys to a variety of apps that put the sanctity of their data first.”
As part of the partnership, Blockchain plans to begin airdropping Stacks later this year to users who have opted into the program in eligible geographies. The Stacks distributed in this airdrop will become transferable after one year.
“Blockchain has solidified its role as critical infrastructure for people who want to use crypto and engage in a new economy that works for users, not against them,” said Muneeb Ali, Co-founder and CEO of Blockstack. “We look forward to working with the team to bring new faces into our ecosystem, and continue to empower the decentralized applications of the future.”