On Friday, UK fintech startup Stater Holdings (also known as Stater Blockchain) announced plans to acquire Hashcove Limited, a UK blockchain-focused tech company co-founded by Kunal Nandwani.
According to Stater Blockchain, Hashcove has deep domain expertise in Smart Contracts and KYC and has customized solutions including the Cove Identity App for blockchain-based document verification. Additionally, the company also provides technology around Crypto Exchanges and Wallets. Tim Connell, Owner, Stater Blockchain, stated:
“Our strategy has always been to focus on best of breed technologies and companies with significant growth potential such as Stater Global Markets. Our statement of intent to acquire Hashcove marks an exciting potential development and opens up huge opportunities for the business.”
Stater Blockchain CEO, Ramy Soliman then noted,
“This would be an excellent synergistic partnership on many levels. Kunal and his team have built advanced technology that fits with Stater Blockchain’s existing development roll out of our Smart Settlement and Smart KYC products. Hashcove could help Stater Blockchain to deliver an institutional calibre product to our existing global client base. Stater Global Markets services a number of institutional broker clients and delivering a quality document verification platform to them adds significant value to the whole brokerage community that Stater services. Additionally, Hashcove’s expertise in settlements from their experience in India can be leveraged at Stater to service a fast-growing financial trading community.”
Hashcove CEO, Kunal Nandwani, added:
“We look forward to working with Stater Blockchain and have been very impressed with their plans and their unique proposition combining institutional blockchain technology with a ready-made distribution channel for the products that we have and are developing. Working with Ramy and his team, we would also be able to refine our products to meet the massive financial services demand for Settlement and KYC blockchain-derived products that Stater has identified.”