Crypto lending and stablecoin provider TrustToken acquires Web3 dev firm EthWorks
TrustToken, the creators of TrueFi, an unsecured lending protocol, and maker of popular stablecoins including TrueUSD, recently announced the acquisition of EthWorks, a Web3 development company with a deep portfolio of successful blockchain projects.
Recognized as a leading Web3 engineering firm, EthWorks has been a TrustToken partner for more than a year and contributed to the development of many widely adopted layer-1 blockchains and DeFi protocols. This acquisition doubles TrustToken’s team size, and quadruples the company’s technical talent, and brings in senior technical and design leadership to take TrustToken’s development to the next level.
“As TrustToken matures and expands, we need to make sure our products and services are among the most robust, safe, and accessible in the blockchain industry. The acquisition of EthWorks and its world-class team of engineers and designers is crucial for the future of TrueFi, helping us scale the speed, security, and experience of the protocol while creating the greatest possible opportunities for our lenders, borrowers, and token holders.”
– Rafael Cosman, CEO of TrustToken
EthWorks has worked with the Ethereum Foundation, Bitcoin.org, Maker DAO, Polkadot, Dharma, and more. The EthWorks team will fully integrate into TrustToken’s staff and join the technical, design, and operational roadmap across all products and services, with a special focus on scaling the TrueFi protocol.
In onboarding the EthWorks team, the TrustToken team is growing to over 100 members and significantly expands the company’s engineering, design, and cybersecurity capabilities.
Amidst the merger, the new talent aims to accelerate TrustToken’s development plan, user experience, and protocol security across its various products and services. TrustToken will also maintain and expand EthWorks’ open-source projects including Waffle and useDApp which are used by Ethereum developers.
The EthWorks’ engineering and design leadership will join TrustToken in senior positions, guiding the company’s development and branding efforts. The senior leadership team will see Marek Kirejczyk, Founder and CEO of EthWorks, become Chief Technical Officer (CTO) of TrustToken.
Further, EthWorks’ Head of Design, Natalia Kirejczyk, will assume the position of TrustToken’s VP of Design, while EthWorks’ CTO Krzysztof Jelski will become TrustToken’s VP of Engineering.
With this investment in senior talent, Poland is set to become TrustToken’s primary engineering hub.
“We’re very excited to now be part of TrustToken’s story. TrueFi is the fastest-growing uncollateralized lending protocol in DeFi. Our joining forces creates a unique opportunity to accelerate growth and create an outstanding impact in the DeFi space – and soon, in the world of institutional finance.”
– Marek Kirejczyk, Founder of EthWorks
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Text source: CryptoNinjas
