Gleec Buys Komodo’s Cross-Chain DeFi Stack in $23.5M Deal

Gleec has acquired your complete Komodo Platform ecosystem in a $23.5 million deal, placing one of many first crypto swap and cross-chain know-how stacks beneath the umbrella of a licensed monetary companies firm, the digital asset platform stated in a press launch on Monday.

The acquisition consists of Komodo’s model, know-how suite, token infrastructure and core builders, giving Gleec full possession of a system that already powered components of its decentralized change (DEX) and permits sooner integration with merchandise comparable to its crypto debit card, digital IBANs and fiat on- and off-ramps.

Gleec additionally plans to supply white-label DEX and blockchain companies to establishments searching for cross-chain capabilities with out counting on custodial bridges.

Komodo’s know-how is constructed round native atomic swaps, permitting cross-chain buying and selling with out wrapped belongings or bridges, an assault vector liable for almost half of all crypto worth stolen thus far, in accordance with analysis from Chainalysis.

Daniel Dimitrov, CEO of Gleec, stated the acquisition integrates a mature decentralized buying and selling stack right into a regulated setting, whereas Kadan Stadelmann, CTO of Komodo, stated within the launch that this transfer provides the know-how the compliance basis wanted for broader adoption.

The Komodo ecosystem and KMD will stay beneath the Gleec umbrella for now, with a choice on the token coming sooner or later, whether or not will probably be merged with GLEEC or stay separate.

Gleec expects full integration of the Komodo stack in early 2026, with continued growth of the B2B infrastructure.

Learn extra: Crypto pockets firm Exodus buys Baanx and Monavate for $175 million