- ₿trust, a non-profit organization funded by Jack Dorsey, has announced a new acquisition to expand its programs in Africa.
- This acquisition will help ₿trust succeed in its mission to promote the development and education of Bitcoin
open-source engineers worldwide.
- Jack Dorsey, a Bitcoin advocate and co-founder of Twitter, has acquired a Bitcoin organization in Africa.
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Jack Dorsey, a Bitcoin advocate and co-founder of Twitter, bought a Bitcoin organization in Africa.
Jack Dorsey Acquires an Organization in Africa
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₿trust, a non-profit organization funded by Jack Dorsey, the co-founder of Twitter (now X) and a Bitcoin advocate, is expanding its programs in Africa through a new acquisition.
This non-profit organization has acquired an organization named Qala, which focuses on educating Bitcoin and Lightning engineers in Africa. This acquisition will assist ₿trust in its mission to promote the development and education of Bitcoin open-source engineers worldwide.
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According to a joint statement by the two organizations, the transaction was completed on September 1st, and Qala will be rebranded as the ₿trust Builders Program. Founded in 2021, Qala worked to match African software developers with global Bitcoin companies and help them acquire the latest skills.
According to the announcement, Qala formed one of the largest online communities of Bitcoin developers in Africa, covering more than 42 countries. Graduates of the program found jobs at firms such as Galoy, a Bitcoin-native banking platform, Lightning Network-based messaging app SphinxChat, and peer-to-peer platform Bitnob, in addition to receiving open-source grants from ₿trust and Superlunar.
As part of the acquisition terms, Qala’s CEO, Femi Longe, and program manager, Stephanie Titcombe, will officially join ₿trust as ₿trust Builders.
Ojoma Ochai, a board member of ₿trust, said, ‘We are extremely proud to welcome Femi and his excellent team to ₿trust,’ adding that Qala has made ‘rapid progress in promoting open-source development in the Global South.’
The Story of ₿trust
In February 2021, Dorsey announced the establishment of ₿trust, a Bitcoin development foundation, aiming to finance Bitcoin development worldwide. At the time of the announcement, the non-profit organization received 500 BTC, worth $23.7 million, and initially focused on teams in Africa and India.
Aside from Dorsey, the foundation was initially funded by crypto-friendly artist and producer Jay-Z. It is currently led by board members such as Abubakar Nur Khalil, Carla Kirk-Cohen, Obi Nwosu, and Ochai.