Massachusetts-based HBSS Connect has acquired Israeli blockchain startup Colu, Investing.com has learned.
The takeover creates new opportunities towards connecting the traditional transportation market with a rapidly expanding blockchain based payment system. HBSS Connect is the company behind transportation platform QRyde,
Colu has been an active player in the blockchain space since 2014. The company’s digital wallet app was launched in early 2017 and is now operational in cities such as Tel Aviv, Haifa, East London, and Liverpool, serving over 200,000 users and supporting transactions across 2,000 local businesses.
The blockchain startup has previously raised decent investments from firms like IDB Development Corporation and Aleph, and its blockchain technology has garnered attention worldwide.
The merger with HBSS Connect Corp will help accelerate the development and deployment of these technologies…
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