When Blockchain.info bought ZeroBlock, the Bitcoin mobile app specialist, it was aimed to strengthen the presence in the Bitcoin economy. Now, the company is willing to expand its reach and presence to a great extent with the latest buyout wherein it has bought in a real-time Bitcoin trading platform and market visualization provider RTBTC.
Unfazed with the latest debacle in the Bitcoin economy in the form of Mt. Gox, Blockchain seems to expand its portfolio with the acquisition. According to insiders, it is a part of a larger play by Blockchain to attract institutional investors to its ZeroBlock property. Nonetheless, RTBTC will power ZeroBlock’s new trading platform.
Several added advantages will fall to customers as ZeroBlock’s proprietary news feed will be embedded in the new trading platform so that traders are allowed to get first access to market moving news for a greater trading experience. The acquisition according to the two companies is a win-win situation as both have benefited from it.
Talking to media professionals Dan Held, co-founder of ZeroBlock and director of product for Blockchain, said that the acquisition had obvious advantages for both properties as well as consumers. Nevertheless, according to him ZeroBlock is the only trading platform that has an aggregated news feed.
However, with the acquisition traders would be able to access news that moves markets. Also, it will give an edge to traders as the platform will empower traders to react faster to relevant breaking information. Though RTBTC not too old, it has been able to facilitate more than $150m in trading volume across multiple exchanges in the last eight months.
A Win-Win Deal for Both Companies
Interestingly, RTBTC works by allowing traders to link their exchange accounts to the platform using its API, has several rich features which are usually reserved for professional-level platforms used for traditional markets. The latest acquisition is expected to bring a better user-experience for customers.
As a part of the acquisition, RTBTC lead developer Clark Moody will join the Blockchain team. The team at Blockchain seems happy bringing Moody onboard as according to it he is one genius who has played a vital role in the development of the RTBTC platform. Even CEO Nicolas Cary praised Moody for his pioneer and visionary in the Bitcoin economy.
Also, according to its official release RTBTC will be integrated into ZeroBlock under the new ZeroBlock trading platform, which will be open for trading Tuesday. The subscription costs are $20/month for unlimited trading.
To contact the reporter of this story: Deepak Tiwari at email@example.com