Alchemy has acquired Bware Labs, the Romania-based blockchain infrastructure platform and application programming interface services provider.
Web3 infrastructure platform Alchemy disclosed the acquisition in an announcement on Aug. 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, acquiring Romania-based Bware provides a path towards Alchemy’s expansion into Europe. The company’s presence in Europe, which leads in the overall regulation of crypto via its MiCA rules, also offers the pathway to entry into other markets.
Europe is also a growing force in the web3 market, with a talent pool that Alchemy can tap into via the Bware Labs footprint, the firm added.
While Alchemy will take over Bware’s business, the expectation is that the deal will not impact respective companies’ customers. Operations will continue as normal for Bware’s Blast API and blockchain validator businesses, with integration into Alchemy’s product suite set to occur in the coming months.
Read more: Tether CEO: EU’s MiCA regulation puts stablecoins at risk
INFRA token
Notably, Alchemy says it will not take over 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 current circulating supply of over 4.4 million.
In its announcement, Bware said its team “will be stepping away” from its role as the protocol’s core contributor.
“The proxy that sends API requests to the protocol has been deprecated. If you participated in the testnet the related tokens will continue to vest, but you may cease your participation in the protocol as there will not be further rewards.”
Alchemy.
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