StartUp News: ConsenSys Announces Full Acquisition Of Fluidity, A P2P Trading Firm

ConsenSys announces full acquisition of Brooklyn-based Fluidity, the developer of AirSwap, in what will see the Ethereum-backed software company acquire the team members and technology of the latter.

In a press release on Friday, ConsenSys confirmed they had acquired a New York-based blockchain firm, Fluidity, for an undisclosed fee. The acquisition is aiming at absorbing the team and technology behind real estate tokenization, tokenized securities trading, and systems utilizing real-world assets as collateral in decentralized credit platforms.

Joseph Lubin, the founder of ConsenSys was ecstatic at the acquisition of Fluidity saying,

“Bringing Fluidity fully into ConsenSys will unlock powerful synergies that we have identified over the past few months. The team has built best in class token trading technology for different niches that ConsenSys can now help bring forth at scale.”

ConsenSys previously worked with Fluidity on the AirSwap project, an Ethereum based project launched back in 2017 providing peer to peer trading services. The partnership will see ConsenSys provide mentorship to the development team and integrate the AirSwap project allowing developers to leverage the ConsenSys Codefi toolkit.

Michael Oved, CEO, and co-founder of Fluidity, in his statement on the latest acquisition said ConsenSys will be the key to help the company finally reach its potential in offering deep liquidity in its trading platform.

Oved further said,

“The future is bright for decentralized trading, blockchain technology, and upgrading legacy financial infrastructure.”

ConsenSys has taken massive steps in the adoption of blockchain across the globe. Recently, the Ethereum-backed firm announced a $25 million partnership with the European Commission in March to launch the EU Blockchain Observatory and Forum. The EU focuses on benefiting from blockchain opportunities by encouraging the citizens, the European industry, and the governments across the continent.