Stellar have been on a little bit of an acquisition crusade recently pulling together partnerships left right and center partnerships go a very long way for both cryptocurrency adoption and of course. The facilitation of blockchain technologies in essence partnerships like this exist as a trade-off between sound financial backing from one entity stellar in this instance in exchange for access to innovative blockchain research in technology, Which is when in this instance chain come to the fore. Chain is a us-based firm who aim to make the economy more connective. Their products are focused on blockchain technologies, that underpin breakthrough financial services their flagship product sequence is a ledger as a service that allows for the facilitation of token transfer and tracking. They also work with the virtual machine called TX VM, which is being used to describe blockchain transactions. According to fortune stellar have bid 500 million dollars worth of xlm for the acquisition of chain. Though the final deal has not yet been announced. Many reports are now starting to suggest that, an announcement is pending. Very soon this will further enhance the growth of development of both chain and stellar. As a company stellar aren't shy of making such headlines. As we know stellar have their fingers in many pies from social media communication apps, such as kicked to working with tech giants like IBM. We are still unclear what the full partnership between stellar and chain.
It will bring fortune believes that, at the very least the move is a sensible one according to fortune. Stellar has the money and chain has the engineering talent one source familiar. With the deal said it is likely in response to the heated battle for top developers between crypto companies. it's still unclear how seller will incorporate chain into its ecosystem, whether a chain will continue building its existing products and whether chain CEO Adam Ludwig will stick around. We need to keep an eye on the to see what materializes from this as the news comes we should have a better idea of not only the scale of this acquisition but also of what it will mean for both stellar and chain.
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