Gleec splurges $23.5 million to acquire Komodo's cross-chain business, vertically integrating to accelerate its Decentralized Finance ecosystem layout.

[Bitpush] The digital asset platform Gleec has recently completed a significant acquisition—investing $23.5 million to acquire Komodo's cross-chain DeFi business line. This transaction is not just a simple asset transfer; Gleec has almost taken away Komodo's entire technical foundation: brand licensing, codebase, token infrastructure, and even the core development team has moved over.

To be honest, this move is quite clever. Komodo's cross-chain system has actually been providing underlying support for Gleec's decentralized exchange for a long time. Now, they simply take ownership, and future integrations with their own crypto debit cards, virtual IBAN accounts, and fiat channels will definitely be much smoother. After all, it's their own tech stack, they can modify it as they wish without having to consider others' opinions.

This vertical integration approach is becoming increasingly common in the DeFi space – rather than relying on third-party protocols, it is better to directly incorporate core capabilities.