Yellow.com and Openware Finalize Blockchain Merger
This week, two companies -- Yellow.com, Inc. and Openware, Inc. -- announced the finalization of a merger process expected to create a global settlement network for their customers. The two companies will operate under the new name of Yellow Group.
Yellow is a crypto market maker that provides startup seed funding, mentorship, advisory, data analytics and fintech software solutions. Yellow has vibrant blockchain community behind it through its co-working hub in Chiang Mai, conferences, meetups, and entertainment for “digital nomads.”
“We share a common vision, and our competence and technologies are complementary — one has market-making capabilities, and the other one is building financial exchange platforms," said Alexis Sirkia, the founder of Yellow and the Executive Chairman of the new company, in a statement.
Openware has 10 years’ experience servicing European retail banks, shifting their focus entirely to the blockchain industry with the release of open-source modular platform OpenDAX for building digital asset trading systems. Over the past few years, Openware has shipped over 150 trading platforms to their clients.
The newly merged entity will have more than 120 employees worldwide and multiple offices and coworking spaces in the United States, France, Thailand, UK, and Ukraine. Going forward, Yellow Group says it will focus on the development of an ambitious distributed liquidity network for exchanges and institutions scaling to billions of transactions.
Yellow Group will aim to be a worldwide financial information exchange network combining order books of all participants, designed for the Web 3.0 Internet of Finance scale powered by state channels technology, said the companies.
"Our merger allows us to increase our capacity and implement our common vision—a secure financial network powered by blockchain settlement," Louis Bellet, founding partner and CEO of Openware, who is now taking the position of the CEO of Yellow Group, commented on the news. "The goal is to build together a global Web 3.0 network of financial exchange with shared liquidity."
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Edited by Luke Bellos
