Picture used for illustrative purposes only.

Jamil Khan, Senior Reporter

Dubai-based Al Jabeer Technology, a subsidiary of the Al Jaber Group, has successfully acquired Ledgerblock International Technology as a strategic move reflects the company’s commitment to advancing blockchain technology and expanding its operations in the region.

The decision to acquire Ledgerblock was driven by the immense potential of the LBVV COIN and its substantial user base of 500,000 members across 60 countries. The new owner aims to leverage this acquisition to bring the latest advancements in blockchain technology to a broader audience.

As part of the restructuring process, the previous management team of Ledgerblock will step aside, enabling Al Jabeer to transition the organisation towards a decentralized autonomous organisation (DAO) model.

“Al Jabeer Technology is excited about the opportunity to introduce cutting-edge blockchain technology to the market and anticipates positive developments in the near future. This acquisition marks a significant milestone for Al Jabeer, signifying a substantial investment in blockchain technology and the potential of the LBVV coin,” the official said.

“The company is eager to serve new customers, offering them the most advanced blockchain technology solutions available. With this acquisition, Al Jabeer is poised to become a major player in the blockchain industry.” Ledgerblock recently launched its official coin, LBVV Coin, which is currently valued at US$ 0.33 cents. LBVV Coin can be obtained through various cryptocurrency exchanges, with Pancake Swap being the current provider.