Yellow.com, Inc. and Openware, Inc. announced that they had finalized the merging process, creating a global settlement network for their customers. The two companies will operate under the new name of Yellow Group.
The combined umbrella brand has over 120 employees worldwide and multiple offices and coworking spaces in the United States, France, Thailand, UK and Ukraine.
The Yellow Group is now focused on the development of an ambitious distributed liquidity network for exchanges and institutions scaling to billions of transactions.
The Openware expertise comes from ten years of servicing European retail banks, shifting their focus entirely to the blockchain industry with the release of open-source modular platform OpenDAX for building digital asset trading systems. Over the past years, Openware has shipped over 150 trading platforms to their clients.
“Our merger allows us to increase our capacity and implement our common vision—a secure financial network powered by blockchain settlement,” Louis Bellet, founding partner and CEO of Openware, who is now taking the position of the CEO of Yellow Group, commented on the news. “The goal is to build together a global Web 3.0 network of financial exchange with shared liquidity.”
Yellow is a reputable Crypto Market Maker providing startup seed funding, mentorship, advisory, data analytics and Fintech software solutions. Yellow is also a lifestyle with a vibrant blockchain community through its co-working hub in Chiang Mai, conferences, meetups and entertainment for digital nomads.
“We share a common vision, and our competence and technologies are complementary—one has market-making capabilities, and the other one is building financial exchange platforms,” said Alexis Sirkia, the founder of Yellow and the Executive Chairman of the new company, in a statement.
The latest development of the Yellow Group is a worldwide financial information exchange network combining order books of all participants, designed for the Web 3.0 Internet of Finance scale powered by state channels technology.
Yellow.org is an example of brokerage powered by the new OpenDAX v4 software, accessible to startups and entrepreneurs willing to build a trading platform.