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Telecom tech services provider iQSTEL buys 75% stake in blockchain company

Telecommunications technology services provider iQSTEL Inc. bought a 75% stake in blockchain solutions provider itsBchain.

The deal, the terms of which were not disclosed, will allow iQSTEL to offer in-house telecom blockchain services for carrier, corporate and retail markets, the company said in a Feb. 24 news release.

iQSTEL appointed Miguel Scavo as chief information officer of the company and COO of itsBchain. He will be responsible for overseeing the development of blockchain and artificial intelligence services for the company.