Overstock’s Blockchain Subsidiary Acquires Stake in Blockchain Banking Platform
Cointelegraph
Published Mar 11, 2019 06:45PM ET
Updated Mar 11, 2019 07:04PM ET
Overstock’s Blockchain Subsidiary Acquires Stake in Blockchain Banking Platform
Retail giant Overstock.com (NASDAQ:OSTK), Inc.’s blockchain subsidiary, Medici Ventures, has acquired a stake in blockchain banking platform Bankorus, according to a press release published on March 11.
Medici Ventures has purchased a 5.1 percent stake in Bankorus, a blockchain banking platform that enables both individuals and institutions to buy, sell, lend and store digital assets. Jonathan Johnson, president of Medici Ventures, said that “the addition of Bankorus to Medici Ventures’ portfolio of companies will further our work in building the foundation of a blockchain-based technology stack for society.” The financial details of the acquisition were not forthcoming.
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