Just when you thought that Fintech was all about blockchain (at least, that's the focus of the media right now), an acquisition in the digital payments space comes along .
FitBit announced earlier that it's bought assets comprising Coin's wearable payments platform. Coin also published a blogpost on the subject.
What will this mean? Will I be able to track my fitness and make payments? Not yet... apparently there are no immediate plans to introduce the technology to its devices this year, but Fitbit "may" integrate it in future gadgets. This sounds likely, given the statement from the CEO below.
“We are focused on making wearable devices that motivate people to reach their health and fitness goals, and that also make their lives easier with the smart features they need most,” said James Park, CEO and co-founder of Fitbit. “Coin has been one of the key innovators in advanced payment solutions. The inclusion of their payment technology into our offerings will further our strategy of making Fitbit products an indispensable part of people's lives."