Strata Labs is a startup focused on building infrastructure and real utility at the intersection of fintech and cryptocurrencies. Strata Labs builds tools to empower companies with the power of currency agnostic micropayments.
Austin King and Dino Rodriguez (Strata Labs founders) first had contact with Xpring through the Boston tech community and Evan Schwartz in particular (co-creator of Interledger (ILP) and engineer on the Xpring team). The Xpring team was impressed with their entrepreneurial track record. As they got to know them more, they found a lot of alignment in their visions for how money should work and ILP’s potential to enable an Internet of Value.
On November 1st Xpring announced the acquisition of Strata Labs.
According to the announcement:
“We are acquiring Strata Labs and officially welcoming Austin and Dino to the Xpring team where they will be based in our San Francisco office. Similar to the ethos here at Xpring, Strata is keenly focused on open-source projects and scalability. As we continued our collaboration on ILP, we realized the resources Strata developed around node operations and scalability were clearly tools that the entire ecosystem should benefit from and have access to. Even further, Austin and Dino already felt like a part of our team.”
“Strata’s focus on developing and operating node infrastructure and services for the ILP network has enabled some of the first truly Internet-native micropayments, with more than 10 billion transactions flowing on the ILP network for applications such as Coil and Stronghold. We plan to open source the proprietary code from Strata’s infrastructure to allow all developers to use it for their own projects and make the ILP network more accessible.”