Ethereum

Alchemy

Blast

Bware

Avalanche

Alchemy has acquired Bware Labs, the Romania-based blockchain infrastructure platform and application programming interface services provider. 
Web3 infrastructure platform Alchemy disclosed the acquisition in an <a href="https://www.alchemy.com/blog/alchemy-acquires-bware-labs" target="_blank" rel="">announcement</a> on Aug. 29, highlighting Bware Labs’ growth trajectory and suite of blockchain infrastructure and API services as additions that will help Alchemy execute on its product roadmap. 
<h2 class="wp-block-heading" id="path-to-expansion-into-europe">Path to expansion into Europe</h2> 
According to Alchemy, acquiring Romania-based Bware provides a path towards Alchemy’s expansion into Europe. The company’s presence in Europe, which leads in the overall regulation of crypto via its MiCA rules, also offers the pathway to entry into other markets. 
Europe is also a growing force in the web3 market, with a talent pool that Alchemy can tap into via the Bware Labs footprint, the firm added. 
While Alchemy will take over Bware’s business, the expectation is that the deal will not impact respective companies’ customers. Operations will continue as normal for Bware’s Blast API and blockchain validator businesses, with integration into Alchemy’s product suite set to occur in the coming months. 
 Read more: <a href="https://crypto.news/tether-ceo-eu-mica-regulation-puts-stablecoins-at-risk/"> Tether CEO: EU’s MiCA regulation puts stablecoins at risk </a> 
<h2 class="wp-block-heading" id="infra-token">INFRA token</h2> 
Notably, Alchemy says it will not take over the INFRA protocol. The INFRA token powers the Bware ecosystem, including the Blast staking protocol. 
The token is available on the Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>), Avalanche (<a href="https://crypto.news/price/avalanche/">AVAX</a>) and MultiversX (<a href="https://crypto.news/price/multiversx/">EGLD</a>) blockchains and has a total supply of 100 million and current circulating supply of over 4.4 million. 
In its <a href="https://bwarelabs.com/blog/bware-labs-is-getting-acquired-by-alchemy" target="_blank" rel="">announcement</a>, Bware said its team “will be stepping away” from its role as the protocol’s core contributor. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “The proxy that sends API requests to the protocol has been deprecated. If you participated in the testnet the related tokens will continue to vest, but you may cease your participation in the protocol as there will not be further rewards.” 
 Alchemy. 
</blockquote> 
 You might also like: <a href="https://crypto.news/worldcoin-partners-with-alchemy-to-launch-world-chain/"> Worldcoin partners with Alchemy to launch World Chain </a>

Alchemy acquires Romania-based Web3 infrastructure firm Bware Labs

Table of Contents

crypto.news

Other articles published on Aug 29, 2024

Building a Better Future: The Impact of CEEK’s Community-Driven Web 3.0 Platform

Analysts Observe Increase in Polygon’s Onchain Activity

SHIB Team Excites Community with Bullish Vitalik Buterin Post

3 Altcoins Poised For September Surge: Toncoin, Maker, GALA

Russia to Test Cryptocurrency for Cross-Border Payments Amid Western Sanctions

Boost Your Core Ignition Sparks With IceCreamSwap

Join our free newsletter for daily crypto updates!