ConsenSys has acquired the team and technology of its joint venture partner Fluidity, a Brooklyn-based blockchain technology company.
Fluidity is the primary developer of AirSwap and has produced several industry firsts in real-estate tokenization, tokenized securities trading, systems to pledge real collateral to decentralized credit platforms, and has hosted the Fluidity Summit. The terms of the acquisition were not disclosed.
Having completed the initial AirSwap roadmap and delivered multiple building blocks for the DeFi ecosystem, the team will continue to build AirSwap with the support of the industry-leading business development, engineering, and marketing teams at ConsenSys. Fluidity technology will also be leveraged by ConsenSys Codefi to power commerce and decentralized finance.
As part of the acquisition, the Fluidity team and its products will transition to ConsenSys. The blockchain engineers and fintech experts behind AirSwap will continue to empower the world with frictionless trade by focusing on network growth and new token mechanisms.
“Bringing Fluidity fully into ConsenSys will unlock powerful synergies that we have identified over the past few months. The team has built best in class token trading technology for different niches that ConsenSys can now help bring forth at scale. We are excited to reinvigorate the longstanding close relationship,” said Joseph Lubin, Founder of ConsenSys.
AirSwap was founded as a joint venture between ConsenSys and Fluidity in 2017. Nearly three years later, the acquisition signals that ConsenSys is bolstering its core product suite to bring the market new innovations in financial infrastructure built on Ethereum.
“The future is bright for decentralized trading, blockchain technology, and upgrading legacy financial infrastructure. Together with ConsenSys, the power of our systems can be fully realized,” said Michael Oved, CEO and Co-Founder of Fluidity.