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Blockstream, a leading global provider of Bitcoin-based financial infrastructure, has announced its acquisition of Elysium Lab, a Switzerland-based digital asset company known for its Bitcoin developer tools. This strategic move marks Blockstream's expansion into Europe, with a particular focus on Switzerland, a hub for blockchain and fintech innovation.
The acquisition has led to the establishment of Blockstream CH SAGL, a new European headquarters and innovation hub based in Lugano, Switzerland. This new entity will serve as an incubator for native Bitcoin products, fostering ecosystem growth, and boosting research and innovation in the region.
Elysium Lab, founded by Aron Clementi and Gianmarco Guazzo in 2022, was renowned for its Bitcoin developer tools, including a non-custodial wallet and a patent-pending keyless authentication SDK. The acquisition grants Blockstream access to these innovative technologies, enhancing its capabilities in Bitcoin authentication and infrastructure development.
In addition to this, Blockstream CH SAGL will collaborate with the Lugano Research Center, launched in November 2024, on European initiatives. The company's CEO, Adam Back, highlighted that this move deepens Blockstream’s commitment to innovation across Europe, leveraging Switzerland’s supportive regulatory environment to scale Bitcoin solutions such as custody services, cross-border payments, and scalable protocols.
The new entity will also collaborate with Blockstream's R&D team in Turin. Elysium Lab's team will now join Blockstream to contribute to ongoing infrastructure and product development efforts.
As part of its strategy to support growth in the sector, Blockstream CH SAGL is likely to offer CHF 100,000 grants to startups and developers relocating to Lugano to build on its technologies, such as the Liquid Network. This initiative, first introduced at the 2024 Plan ₿ Forum, aims to encourage further development within the Bitcoin ecosystem in Switzerland.
By acquiring Elysium Lab and establishing Blockstream CH SAGL, Blockstream positions itself as an ecosystem builder in the European region, amplifying its commitment to nurturing innovation across Europe and contributing to a broader vision of Bitcoin-native infrastructure worldwide.
| Aspect | Details | |----------------------------------|---------------------------------------------------------------------------------------------------| | Acquisition | Blockstream acquired Elysium Lab, a Lugano-based Bitcoin-focused startup | | New European Headquarters | Blockstream CH SAGL, based in Lugano, Switzerland, serving as a headquarters and BTC incubator | | Focus | Bitcoin-native product development, ecosystem growth, regional research, and innovation | | Elysium Lab Background | Founded 2022; developer tools: non-custodial wallet, keyless authentication SDK (patent pending) | | Grants for Startups | CHF 100,000 grants likely part of Blockstream CH SAGL incubator support for BTC startups (inferred)| | Collaboration | Collaboration with Lugano Research Center and Blockstream's R&D team in Turin | | Strategic Expansion | Reinforces Blockstream's strategic expansion in the European region | | Elysium Lab Team Integration | Elysium Lab's team joining Blockstream to contribute to ongoing infrastructure and product development efforts | | Grant Objective | Encourage further development within the Bitcoin ecosystem in Switzerland | | Positioning | Positions Blockstream as an ecosystem builder in the European region | | Network Objective | Support product development, research, and community involvement in Bitcoin-focused technologies |
This acquisition and launch strategically expand Blockstream’s footprint in Europe, driving innovation and supporting startups in the Bitcoin infrastructure space.
By strategically acquiring Elysium Lab, Blockstream has expanded its presence in Europe, establishing Blockstream CH SAGL, a new headquarters and innovation hub based in Lugano, Switzerland. This move aims to foster ecosystem growth and advance research and innovation in the region. Furthermore, the new entity will collaborate with the Lugano Research Center on European initiatives and offer grants to Bitcoin startups and developers, encouraging further development within the Bitcoin ecosystem in Switzerland.
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