Metal (MTL) Acquires Crumbs; Both Cryptocurrency Apps To Co-Launch
On Wednesday, it was announced that Crumbs Technologies Inc., the startup behind the cryptocurrency micro-investing app called Crumbs, had been acquired by Metallicus Inc., the parent company of Metal (MTL) – a project intent on accelerating the rate of adoption of cryptocurrencies and distributed ledger technologies like blockchain; starting with their upcoming flagship product, Metal Pay.
“The addition of Crumbs will seamlessly integrate into the ecosystem of Metal,” according to Wednesday’s official press release, “delivering a single platform that not only rewards people for P2P transactions within Metal Pay, but also helps them invest in several types of digital assets with the Crumbs app.”
This acquisition makes sense because we were envisioning to release this kind of product ourselves.” – Glenn Mariën (CTO & Co-Founder, Metal)
The announcement of this crypto-acquisition comes ahead of summer; a season which will see Metal Pay go live. Notably, Wednesday’s press statement revealed that Crumbs – whose team will stay on and continue operating independently – will also co-launch alongside Metal’s flagship product.
Currently, Crumbs is available for Beta testing, and they are granting early access to those who register on their website. The Crumbs app – soon available for both iOS and Android – will automatically partition a small amount of money (i.e. micro-investing) into a customizable index of cryptocurrencies. This occurs every time the user makes a payment with their credit and/or debit card.
Together, Metal and Crumbs will build a suite of products to attract more newcomers into blockchain.” – Patrick Mrozowski (CEO & Co-Founder, Crumbs)
Notably, Marshall Hayner (CEO & Co-Founder, Metal) already held an advisory role with Crumbs. He also invested in the micro-investing app’s US$175,000 seed round conducted late last December, alongside Ben Nguyen (Advisory Board Member, Metal) – per Crunchbase.
Accompanying the acquisition announcement was the below video featuring the co-founders of both Metal and Crumbs:
🤘An exciting announcement from our co-founders!
— Metal *we are not giving away ETH* (@metalpaysme) May 30, 2018
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