Best of Show winner Blockstack.io today announced an agreement to be acquired by Digital Asset Holdings. Terms of the deal were not immediately available.

Miron Cuperman, Blockstack CTO, called Digital Asset “the best platform” to deliver Blockstack’s blockchain-application-development tools as part of a comprehensive solution for customers. Digital Asset Holdings’ CEO Blythe Masters praised both Blockstack’s technology as well as its talent, calling Cuperman “a renowned pioneer in the blockchain world.”

“(Cuperman) adds tremendous technical expertise to our development team,” Masters said.

From left: Blockstack CEO Peter Shiau and CPO Lior Saar demonstrated Blockstack.io at FinovateFall 2015 in New York.

Blockstack provides financial institutions with a hosted platform to build blockchain-based applications using APIs and SDKs. Currently available in beta, Blockstack’s platform combines open source and proprietary technologies in a private blockchain for known participants to develop apps.

As part of the acquisition, Digital Asset Holdings and Blockstack will integrate their product offerings, giving clients a seamless integration experience. Peter Shiau, Blockstack CEO, added that Digital Asset Holding’s approach to technology is “very complementary” and that the leadership of the combined entity will have the necessary resources to scale the platform.

Founded in May 2015 and headquartered in San Francisco, Blockstack made its Finovate debut at FinovateFall 2015 in New York, and its FinDEVr debut at FinDEVr San Francisco 2015.