BTCS Inc., a blockchain technology-focused company, has announced that it is going to merge with Blockchain Global Limited (BCG), an Australian blockchain company.

BTCS has signed a non-binding Letter of Intent (LOI) for this merger, which is subject to a number of conditions including the approval of BCG’s shareholders and board and the approval of BTCS’s board, and the settlement of all of BTCS’ debt prior to closing. Under the terms of the LOI, BCG shareholders shall receive a combination of common stock, convertible preferred stock and warrants equal to 75% of the fully-diluted equity securities of the company post-closing, the official release said.

Established in 2014 as Bitcoin Group, BCG has evolved to become a key player in the bitcoin and blockchain space. It operates four distinct business lines:

• BCG’s ACX.io Exchange
• BCG Transaction Verification Services (bitcoin mining)
• BCG’s Start-up Accelerator
• BCG’s Technology Consultancy:

“As early movers in a rapidly developing industry, we’ve assembled a talented team with the necessary expertise to excel,” stated Sam Lee, CEO of BCG. “In addition to our work with innovative companies through the Melbourne Blockchain Center, we’ve also positioned ourselves to be a leading consultant in the space, servicing companies that recognize the importance of incorporating blockchain technology into their organizational strategies. By teaming up with BTCS, we’re deepening our pool of talent.”

BTCS is one of the first U.S. publicly traded companies to be involved with digital assets and blockchain technologies. Subject to additional financing, it intends to create a portfolio of digital assets including bitcoin and other protocol tokens to provide investors a diversified pure-play exposure to the bitcoin and blockchain industries.

“The blockchain space continues to suffer from a talent void,” commented Charles Allen, CEO of BTCS. “Together with BCG, and their track record of success, we’re positioning ourselves to fill this talent void, ultimately capitalizing on the immense opportunity in blockchain technologies and leveraging our early-mover advantage.”

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