HBSS Connect Acquires Israeli Blockchain Startup Colu: A Game-Changer for the Transportation Market
In a groundbreaking move, Massachusetts-based HBSS Connect has acquired Israeli blockchain startup Colu, paving the way for innovative opportunities in the traditional transportation market. This acquisition sets the stage for connecting transportation systems with a rapidly expanding blockchain-based payment system, revolutionizing the way we think about mobility.
Colu, established in 2014, has made significant strides in the blockchain space with its digital wallet app serving over 200,000 users in cities like Tel Aviv and London. The company’s technology has attracted investments from major firms and garnered global attention.
The merger with HBSS Connect Corp will accelerate the development and deployment of Colu’s blockchain technology on a global scale. This move is expected to enhance QRyde’s efforts in creating a blockchain-based transportation system that optimizes municipal government spending and integrates transportation systems with local economies.
HBSS Connect CEO, Himanshu Bhatnagar, sees this acquisition as a pivotal step towards transforming the mobility space. By combining Colu’s expertise with QRyde’s advanced transportation platform, the companies aim to make transportation more accessible and trustworthy for all citizens.
Through this collaboration, Colu will expand its digital reward schemes to engage residents and strengthen local economies, benefiting communities across the United States.
In essence, this acquisition marks a significant shift in the transportation industry, promising more efficient and cost-effective services for users. By leveraging blockchain technology and innovative solutions, HBSS Connect and Colu are poised to revolutionize the way we approach transportation, ultimately improving the lives of individuals and communities worldwide.