Blockchain technology firm Blockstream has acquired GreenAddress, a bitcoin wallet software provider in Europe, to boost sidechains development.
GreenAddress, founded in 2014, offers a per-transaction two-factor authentication, multi-signature and deterministic wallet.
GreenAddress is available for Android, iOS, and Chrome. All apps are and will remain open source, Blockstream said in a statement.
“As we looked at our sidechain technology roadmap, the addition of an open source, well-tested, production quality wallet was a natural choice. It increases the reach of our platform and allows us to meet the requirements of our enterprise applications,” the statement added.
Following the acquisition, the development team of GreenAddress will join Blockstream’s engineering teams.
GreenAddress's founder Lawrence Nahum Lawrence will assume the role of senior architect and will continue to oversee GreenAddress.
“We are pleased to welcome Lawrence and his team to Blockstream, to commit to the GreenAddress user base, our continued support and development of their wallet of choice, and to share our excitement for adding wallet support to an end-to-end sidechain technology stack,” Blockstream post added.