AirSwap (AST)
$0.132276 (5.79 %) View coin
22 May 2020

ConsenSys acquires its joint venture partner Fluidity

ConsenSys has acquired the team and technology of its joint venture partner Fluidity, a Brooklyn-based blockchain technology firm. Fluidity is the primary developer behind AirSwap and has launched products for real-estate tokenization, tokenized securities trading, systems to pledge real collateral to decentralized credit platforms, and has hosted the Fluidity Summit.

According to a press release, the acquisition will allow Fluidity to continue building AirSwap with the support of the business development, engineering, and marketing teams at ConsenSys. The Fluidity team and related products will transition to ConsenSys, and Fluidity's technology will be used by ConsenSys Codefi, a business-focused blockchain project announced late last year.

AirSwap was founded as a joint venture between ConsenSys and Fluidity in 2017. “Bringing Fluidity fully into ConsenSys will unlock powerful synergies that we have identified over the past few months. The team has built best in class token trading technology for different niches that ConsenSys can now help bring forth at scale. We are excited to reinvigorate the longstanding close relationship,” said ConsenSys Joseph Lubin.

In recent months ConsenSys has focused its product offerings on enterprise and business-related blockchain offerings built on Ethereum where Fluidity's expertise in decentralized financial products will likely help bolster ConsenSys's core offerings. “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,” said Michael Oved, CEO and Co-Founder of Fluidity.

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