Here Comes Merger of Blockchain Focused Fintech Firms to Create Global Settlement Network
Yellow.com, Inc. and Openware, Inc. announced today that the merger process had been completed, resulting in the creation of a worldwide settlement network for its clients. The combined entity will be known as Yellow Group. The merged firm employs more than 120 people globally and has several offices and co-working spaces around the United States, France, Thailand, the United Kingdom, and Ukraine.
The Yellow Group is currently concentrating its efforts on the construction of an innovative distributed liquidity network capable of expanding to billions of transactions for exchanges and institutions. Openware’s experience originates from 10 years of serving European retail banks before completely refocusing on the blockchain sector with the introduction of the open-source modular platform OpenDAX for developing digital asset trading platforms.
Openware has deployed over 150 trading systems to its customers over the last several years. “Our merger enables us to scale our operations and realize our shared vision—a secure financial network driven by blockchain settlement,” remarked Louis Bellet, founding partner and CEO of Openware, who will also serve as CEO of Yellow Group. “The objective is to collaborate on the development of a worldwide Web 3.0 financial exchange network with shared liquidity.”
Yellow is a respected cryptocurrency market maker that provides seed investment, coaching, advisory services, data analytics, and Fintech software solutions to startups. Yellow is also a way of life, with a thriving blockchain community that it fosters via its coworking space in Chiang Mai, conferences, events, and entertainment for digital nomads.
“We have a shared goal, and our competencies and technology complement one another—one specializes in market-making, while the other specializes in developing financial exchange platforms,” said Alexis Sirkia, the creator of Yellow and the new company’s Executive Chairman.
The Yellow Group’s most recent creation is a global financial information exchange network that connects all participants’ order books and is optimized for the Web 3.0 Internet of Finance scale enabled by state channels technology.