Telecom service provider iQSTEL acquires 75% stake in blockchain company itsBchain

According to Spglobal, telecommunications technology service provider iQSTEL Inc. has acquired a 75% stake in itsBchain, a blockchain solution provider. iQSTEL said at a press conference on February 24 that specific terms of the transaction had not been disclosed, and it would allow iQSTEL to provide internal telecommunications blockchain services to operators, enterprises and retail markets. In addition, iQSTEL appointed Miguel Scavo as the company's chief information officer (CIO) and chief operating officer (COO). He will oversee the development of blockchain and artificial intelligence services.