BERNARD HICKS/Associated PressBarrons has announced that it has merged with another bitcoin company, Amrock, to become one of the largest bitcoin companies in the U.S. with a market capitalization of $1.3 billion.
The transaction was first reported by CNBC.
Barrons announced its acquisition of Amrock in December, and the company has been selling bitcoin-related goods and services in a variety of industries, including health care, financial services and education.
It also offers a variety and range of payment options, including wire transfers, credit cards, cash and bitcoin.
Barron said the deal will help the two companies bring bitcoin into their business models.
Barons CEO and co-founder Andrew Barrows said in a statement that Amrock’s market capitalisation of $5 billion, combined with the amount of assets it currently holds in its bitcoin wallet, is sufficient to enable us to grow and create value for our customers.
“The combined company will be known as AmRock.
The company said that its services will be “designed to allow our customers to transact securely and securely with bitcoin, enabling them to access the most innovative digital assets.”
Barrons was founded in 2014 by Barrows and Amrock co-founders Brian Chesky and Michael Karp, and it is one of many bitcoin companies that have been growing.
The company has also acquired businesses such as BitInstant, Coinbase and Circle.
Other bitcoin companies are also expanding their business in the United States.
One of the more notable is Coinbase, which acquired the online wallet provider Bitpay in January.