RSK Creators Acquire Spanish Social Network

IVO Lab, the parent company behind RSK's bitcoin smart contract network, today announced its acquisition of Spanish-language social networking platform Taringa.

With the deal, IVO Labs announced it will also integrate RIF, RSK's native token, into Taringa.

In a release, IVO Labs said Taringa will both integrate and test RSK decentralized applications and infrastructure.

One of the largest Spanish social media apps, Taringa claims to have some 30 million users, 1,000 active communities, and 8 million daily shares on its platform.

"IOVLabs chose Taringa because of its strong dominance in Latin America and Spanish speaking audience and the unique position the region has to lead cryptocurrencies mass adoption," the company told CoinDesk.

RSK's smart contract network is based on the bitcoin state's hashing power which the company claims to give its network high security.

"We see Taringa as the first step towards massive adoption of both RSK and RIF platforms," Diego Gutierrez Zaldivar, CEO of IOVLabs, said in a statement.

In a partnership with bitcoin custodial service Xapo, Taringa integrated bitcoin into its app in 2015.

Under the deal, top content creators on Taringa received bitcoin tips for their work.

Commenting on the acquisition, Taringa CEO Matías Botbol said Taringa is excited to bring more advanced digital products to its users.