Much Like Ripple Labs, San Francisco-based Hyperledger uses a distributed ledger to allow banks and other financial institutions to clear and settle transactions in real-time.

Hyperledger’s technology enables financial institutions to create multiple private blockchains across a known group of participants. Unlike other distributed ledgers, Hyperledger does not have an inbuilt crypto-currency and uses a consensus-based algorithm capable of thousands of transactions per second.

Under the terms of the acquisition, Hyperledger CEO, Dan O’Prey, will become chief marketing officer of Digital Asset, and CTO Daniel Feichtinger will join the senior engineering team.

Digital Asset has also announced its earlier acquisition of Bits of Proof, a software company based in Budapest that has built and deployed an enterprise level server to integrate blockchain technology into financial applications. Támas Blummer, founder and CEO of Bits of Proof has joined Digital Asset Holdings as chief ledger architect.

Says Masters: "We build tools to help clients harness the power of distributed ledgers to serve their own customers. We integrate financial infrastructure with a variety of innovative new technologies inspired by the blockchain. Different ledger technologies serve different purposes and all of those we integrate with are additive."

Masters joined Digital Asset in March after an accomplished career at JPMorgan in a variety of senior roles including head of global commodities, chief financial officer of the investment bank, head of global credit portfolio and credit policy and strategy and head of commercial and investment bank regulatory affairs.