Blythe Masters' Blockchain-Tech Startup Turns to M&A
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Digital Asset Holdings, the blockchain technology startup led by JPMorgan Chase alum Blythe Masters, is expanding its capabilities by acquiring other such firms.
The firm announced Thursday it had acquired Bits of Proof and agreed to acquire Hyperledger. Terms were not disclosed for either transaction.
"We integrate financial infrastructure with a variety of innovative new technologies inspired by the blockchain," Masters said in a statement. "Different ledger technologies serve different purposes and all of those we integrate with are additive." [Ed. note: Masters will be one of the speakers at our Digital Currencies + the Blockchain event in NYC on July 28.]
Hyperledger CEO Dan O'Prey will become chief marketing officer at Digital Asset once they merge. CTO Daniel Feichtinger will join the senior engineering team. Based in San Francisco, Hyperledger has developed a distributed ledger that it claims can clear and settle financial transactions in real time without a native currency like those found in the Bitcoin and Ripple networks.
Bits of Proof founder and CEO Támas Blummer will become Digital Asset's chief ledger architect. The Hungarian software company built an enterprise-level server to integrate blockchain technology into financial applications.
Masters joined Digital Asset in March. The investment banking veteran, who pioneered credit derivatives in the 1990s and headed JPMorgan's global commodities unit from 2007 to 2014, is one of the most prominent women in finance. She left the megabank in April of last year.