Adam Back, CEO of the Canadian Bitcoin company, said in a release that the firm is splitting into three in order to “focus on building the financial rails and infrastructure to help secure Bitcoin’s success long term.” (The Logic)

Talking point: Blockstream launched in 2014 with the goal of playing a similar role for Bitcoin as the Mozilla Corporation does for open-source internet tools like the Firefox browser— employing open-source developers, funding research and growing the digital asset’s reach. Since then, it has expanded into a variety of other business lines, including digital asset management, satellite deployment and even T-shirts. Following the spinout, Blockstream intends to focus on asset management, bitcoin wallets, tools to help institutional investors store bitcoin and speeding up the settlement of large bitcoin transactions.