Stay Informed. Stay Competitive with FREE Insights on the Stock Market, Dow 30 & Emerging Opportunities. Get Free Email Updates

Stay Competitive With Stock Market Updates!

Get Free Updates

Brooklyn-based Tech Start-Up ConsenSys Announces Deal For JPMorgan’s Quorum

By John F. Heerdink, Jr.

Reportedly, ConsenSys, a Brooklyn-based technology start-up has acquired Quorum, JPMorgan Chase & Co’s (JPM) marquee block-chain platform. JP Morgan also announced a strategic investment in ConsenSys however, financial terms of the deal remained undisclosed.

“We have acquired the Quorum IP, JPMorgan has made a strategic investment, and there is a commercial arrangement to continue to support JPMorgan in their projects,” stated ConsenSys Chief Executive and founder Joseph Lubin.

Blockchain has emerged over a decade ago as the software powering cryptocurrency transactions, gaining attention from large corporations and banks. The Quorum block-chain is built internally using the ethereum network, a software that underpins ether, a well-known cryptocurrency. Quorum, which is to remain open-source, is being used by the bank to run the Interbank Information Network, involving payment networks for more than 300 banks.

As per the deal, the Quorum team to remain at JPMorgan and help with the transition over the next year and later work on other blockchain projects.

ConsenSys is a prominent blockchain start-up, it witnessed rapid growth during the 2017 crypto bubble and underwent a restructuring earlier this year to divide its software development business from its venture activities.

JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking. To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.

Post View Count : 1029
(Read Original Story: ConsenSys acquires JPMorgan's blockchain platform Quorum in Reuters)


Subscribe for FREE Email Updates & Access To EXCLUSIVE Research!

Connect with us