Malta based bitcoin startup GreenAddress which runs a wallet service announced today that it was acquired by Blockstream.
Blockstream is another bitcoin startup which is focused on building open source bitcoin and blockchain applications, which also helps fund Bitcoin Core development.
GreenAddress has been around for three years now, innovating over the years making their wallet service more robust. Most recently they released some significant changes to their walletarchitecture which included Replace-By-Fee (RBF) front-end transaction support.
In the announcement made from the company, they wrote,
“Now, with the expertise, experience, and resources of Blockstream, we will continue improving GreenAddress. Our goal is to remain at the forefront of innovation and deliver new improvements to our users.”
GreenAddress says that more changes will be coming to the wallet as part of the acquisition, which will be a multi-platform wallet library to enable more rapid development of all platforms, enhanced privacy and security, and sidechain support throughout the platform.
Extending GreenAddress to work with sidechains will mean you will have the ability to manage not only bitcoin, but other assets and features that are coming online over the next months and years ahead as Blockstream and other developers establish new sidechain-based networks.
The Blockstream acquisition may not come as a surprise to some people in the bitcoin-sphere, as GreenAddress developer Lawrence Nahum has been working on the Bitcoin Core open-source development already. Another fun fact is that Blockstream President Adam Back is a resident of Malta, so the relationship between the two was sure to bare some fruit.