Alchemy has acquired Bware Labs, the Romania-based blockchain infrastructure platform and application programming interface services provider.
Web3 infrastructure platform Alchemy announced the acquisition in an announcement on August 29, highlighting Bware Labs’ growth trajectory and suite of blockchain infrastructure and API services as additions that will help Alchemy execute on its product roadmap.
Path to expansion into Europe
According to Alchemy, the acquisition of Romania-based Bware provides a path towards Alchemy’s expansion into Europe. The company’s presence in Europe, which leads the overall regulation of cryptocurrencies through its MiCA rules, also provides an avenue for entry into other markets.
Europe is also a growing force in the web3 market, with a talent pool that Alchemy can tap into through Bware Labs’ footprint, the company added.
Although Alchemy will take over Bware’s activities, it is expected that the deal will not have any consequences for the customers of the companies in question. Operations of Bware’s Blast API and blockchain validator businesses will continue as normal, with integration into Alchemy’s product suite taking place in the coming months.
Read more: Tether CEO: EU’s MiCA regulations put stablecoins at risk
INFRA token
Notably, Alchemy says it will not adopt the INFRA protocol. The INFRA token powers the Bware ecosystem, including the Blast staking protocol.
The token is available on the Ethereum (ETH), Avalanche (AVAX), and MultiversX (EGLD) blockchains and has a total supply of 100 million and a current circulating supply of over 4.4 million.
In the announcement, Bware said his team will “step back” from its role as the main contributor to the protocol.
“The proxy that sends API requests to the protocol is outdated. If you participated in the testnet, the associated tokens will remain unconditional, but you can discontinue your participation in the protocol as there will be no further rewards.
Alchemy.
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