New York-based blockchain solutions firm Digital Asset Holdings (DAH) has acquired Elevance Digital Finance (EDF), a startup based in Zurich that has developed several technologies for semi-private distributed ledgers.
With this acquisition, Digital Asset Holdings has established a presence in the Swiss city, which is home to an increasing number of blockchain startups. As part of the deal, Vincent Peikert, CEO of Elevence, will now be heading the newly-formed Digital Asset Switzerland division, in addition to being appointed head of products for the entire EU region.
Additionally, James Litsios, CTO of Elevence, will assume the head of development position at Digital Asset Switzerland.
The technology developed by Elevance Digital Finance will augment the existing blockchain and distributed ledger-based systems developed by Digital Asset Holdings. The release states that EDF’s technology provides a “verifiable way for parties to a transaction to independently prove updates to a distributed ledger while preserving data confidentiality.“
Digital Asset Holdings – lead by investment banking veteran and former JPMorgan executive Blythe Masters – has been on an acquisition spree for the past several months, gobbling up several blockchain startups such as Hyperledger and Blockstack, among others.
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