Stellar Development Foundation invested in Keybase, a cryptography startup co-founded by OKCupid creators, to build person-to-person cryptocurrency payments using Stellar's lumens blockchain with near-zero fees.
Stellar Development Foundation has made an undisclosed investment in Keybase, a cryptography-focused startup founded by OKCupid co-founders Chris Coyne and Maxwell Krohn. The deal is structured as a friendly arrangement rather than traditional venture capital, and Keybase indicated it won't pursue a Series B round. Keybase plans to integrate Stellar's lumens cryptocurrency to enable easier peer-to-peer payments, leveraging Stellar's fast transaction speeds and minimal fees. The startup will initially accept the investment in fiat currency but plans to transition to holding value in lumens. Keybase's existing infrastructure for end-to-end encryption and multi-device key management positions it well to simplify cryptocurrency transactions for mainstream users.