Bitcoin.com made an exciting announcement in the last few hours: it has completed the acquisition of O3 Labs, a blockchain startup that makes it business by developing gateways to the digital economy, as reported by a press release.
The primary objective of the alliance will be fostering a proper ecosystem to realize the full potential of the Bitcoin Cash network by developing the tools needed, and for that, the addition of O3 Labs will be crucial.
Under Bitcoin.com’s name, the two entities will now be one team, and together will work to build the foundation of the next generation of mobile financial resources and services.
Trying to Change the World through Bitcoin Cash
Bitcoin.com identifies itself as an entity that tries to “change the world with Bitcoin Cash (BCH).” It has a free wallet app which lets users manage both BCH and BTC with ease, as well as global mining solutions, coverage of crypto industry news, and other crypto-focused products. They are “committed to making BCH available to people of all ages, genders, nationalities, and financial backgrounds.”
Meanwhile, O3 Labs is known for its app development resources, and Bitcoin focused on that as it seeks to develop tools that users can understand with ease and use across several platforms including mobile, web, smart devices, and more. The idea is to use them all to bring together partners, community, and financial services with Bitcoin.com.
The CEO of Bitcoin.com Stefan Rust explained that “with the O3 team joining Bitcoin.com, we look forward to accelerating services in our mobile applications serving anyone in the world with an internet connection, regardless of nationality, socioeconomic status, or access to traditional finance.”
According to the executive, “this will give users the ability to manage, grow, and spend while doing business with whomever they want, whenever they want, without the need for traditional banks or financial intermediaries. Our mission is to make money work for everyone, building tools and products that help people access Bitcoin Cash, a global financial system that’s fast, affordable, and available to everyone.”
Permissionless and Private Transactions
Bitcoin Cash provides “open, borderless, permissionless, censorship-resistant, private transactions,” and Rust observes that “these core principles are at the heart of every service and product we offer at Bitcoin.com. We have known its importance for a long time and now the entire crypto industry is beginning to see this as well. We welcome the O3 Labs team with open arms to join us on this incredible adventure.”
Bitcoin.com has been increasing the number of services it provides in recent times. For instance, it developed an anonymous peer-to-peer BCH trading platform and a cryptocurrency exchange. A couple of months ago, the Bitcoin.com Wallet was integrated into the HTC Exodus 1 blockchain smartphone.
The Bitcoin Cash-related services suite also operates an office in Tokyo, Japan, and is closely linked to the Japanese crypto world. At the same time, O3 Labs is widely known around the industry for its role in developing user-friendly tools to enhance blockchain access.
By Andres Chavez
