StableCOin Essuer Circle (CRCL) has acquired Malachite, the consensus engine set to support paying-focused blockchain arc, from software development company informal systems, according to a press release on Monday.
Several people from informal systems join Circle as part of the acquisition. Companies did not reveal details of pricing.
The deal comes as a circle, the company behind $ 65 billion USDC (USDC) Token, announced last week that it is building its own LAG-1 blockchain designed for stablecoin economies, a recent trend among issuers aimed at utilizing the flowering sector. StableCoins, a set of cryptocurrencies with prices tied to an external asset like the US dollar, is expected to become a Billion dollar market and disrupt cross -border payments.
Malachite was built around the Tendmint Consensus algorithm and was designed for flexibility and correctness in decentralized systems. Informal systems developed it as a recyclable foundation for blockchain infrastructure focusing on performance and security.
Malachite will remain open source under the Apache 2.0 license, which lets developers be free for use and expand the technology, the press release said. Informally, it will continue to support other use cases for Malachit and promote its other projects, including tools for distributed systems and transverse chain infrastructure.
Read more: Why circle and stripe (And many others) Launching their own blockchains
