Lightyear, formed by the Stellar Foundation, acquired San Francisco-based blockchain fintech Chain. The deal, rumored at $500m, will move Chain's operations to the Stellar network as part of Lightyear's rebranding to InterStellar.
Lightyear, a for-profit entity created by the Stellar Foundation, has acquired Chain, a San Francisco-based blockchain startup focused on financial services. Chain raised over $40 million from major investors including Khosla Ventures, Capital One, Citigroup, Nasdaq, and Visa. While the exact acquisition price remains undisclosed, Fortune previously reported rumors of a $500 million deal. Chain CEO Adam Ludwin stated the outcome was positive for investors. Lightyear, which will be renamed InterStellar, was established to manage partnerships and leverage Stellar's substantial market capitalization. This acquisition aligns with IBM's recent announcement of World Wire, a cross-border payments platform built on Stellar.