Bitmain one of the largest manufactures of crypto miners has now acquired a Bitcoin Cash (BCH) Browser wallet startup known as Telescope. This startup had launched earlier this year.
Telescope is currently available for web browsers like Google Chrome, Mozilla Firefox. After this acquisition, the startup is planning to integrate with other platforms.
Bitmain owns about 6% of all Bitcoin Cash in the world. This may make it one of the single largest owner of Bitcoin Cash. And Bitmain owns nearly $900 million USD in the cryptocurrency. Maybe this acquisition is based on this numbers where the company plans to explore the crypto wallet space.
Also recently we had seen Bitmain is planning to launch an IPO on the Hong Kong stock exchange. This IPO is said to be worth $3 billion.
Telescope is being supported by BitPay, which is one of the largest blockchain payment provider. Also, MoneyButton is one form of one-click payment solution. Thus all the transaction is done by the web browser itself and even cryptographic keys are stored in it.
One of Bitmain’s staff Nishant Sharma who is working as the head of international press relations and communications said, Cryptocurrency web browser wallets are promising technology. And he mentioned that Bitman’s is looking forward to working together with telescope on the next bitcoin cash project.
Let’s see how these companies work together and grow in the future as the crypto market is expanding this year.