Blockchain.info Launches ZeroBlock Trading Platform RTBTC
This week Blockchain.info showed us just how easy it is to acquire a company. The company purchased the encrypted currency trading platform RTBTC, in what was the first 100% Bitcoin acquisition. From the buyout of RTBTC, Blockchain.info has launched the ZeroBlock trading platform, combining a world class currency trading platform with the most popular Bitcoin mobile app.
The undisclosed amount of the all-Bitcoin sale will be distributed over a period of time to compensate for the volatility of the virtual currency. This will allow for ZeroBlock, subsidiary of Blockchain.info and leading market price aggregator and news app, to completely acquire the company. Dan Held, co-founder of ZeroBlock and Director of Product of Blockchain stated in a recent press release, “Acquiring RTBTC was a perfect fit for ZeroBlock’s existing product. Our features and services are highly complimentary, and we are excited to bring additional functionality to our users.”
RTBTC was built by Clark Moody, one of the best and brightest in the Bitcoin economy, and after the acquisition, Blockchain hired him to head up product strategy and vision for ZeroBlock. The ultimate goal is to build a comprehensive trading platform for Bitcoin, an attempt to build “the Bloomberg of Bitcoin,” explained Blockchain CEO Nic Cary. ZeroBlock, which Blockchain acquired in December, hopes to be a professional-level trading platform with both mobile and desktop versions.
Since RTBTC launched in July 2013, the company has facilitated over $150 million in trading volume across multiple exchanges, further solidifying the decision for ZeroBlock to acquire the company. When paired with Blockchain’s over 1.1 million users, the platform that RTBTC adds to ZeroBlock will continue to allow the spread of information between individuals and create a unique approach to Bitcoin trading.
For both veterans and newcomers to Bitcoin, ZeroBlock has the ability of becoming the most popular trading platform based on reputation alone. The current ZeroBlock app has over 10,000 daily users and is the most downloaded Bitcoin mobile application, with over 55,000 downloads between iOS and Android. For users wanting unlimited trading, ZeroBlock Pro will provide unlimited trading and a mobile application that will eventually enable mobile trading, all for a monthly subscription of $20 per month.
Don’t worry iPhone users, the application itself might have a chance in the App Store, because Apple currently has a host of Bitcoin trading platforms within the app store. Time will tell if Apple and its notorious stance on Bitcoin apps will have an effect on the eventual mobile trading platform. Eventually, ZeroBlock may become the first mobile Bitcoin trading platform, which could drastically increase the continued adoption of virtual currencies.
The partnership between the three companies aims to provide users with a holistic and professional approach to Bitcoin, including trading, price data and news. According to Cary, “by merging a world class trading platform with the most popular mobile Bitcoin app, Blockchain will lead the way for institutional investors.”
Additional features of ZeroBlock were not made in the announcement, but there is speculation of support of additional exchanges and exciting trading features. This is exciting news for the Bitcoin ecosystem and has the possibility of establishing ZeroBlock as a trusted trading platform.
Will the acquisition propel the growth of Bitcoin?