Stone Ridge launches new startup accelerator for Bitcoin blockchain

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Stone Ridge launches new startup accelerator for Bitcoin blockchain

Stone Ridge Holdings, a billion-dollar asset manager, has introduced a new startup accelerator that will focus on the second layer of the Bitcoin blockchain, the Lightning Network. In Wolf's Clothing, the new initiative, is called In Wolf's Clothing.

The asset manager is submitting applications for the new accelerator, and each startup selected will receive $250,000 in funding, along with advice from employees at Stone Ridge and its subsidiary, the New York Digital Investment Group.

Only the startups that build on the Lightning Network and Taro will be allowed to participate in the program.

Stone Ridge Holdings said yesterday that it would not be releasing a statement on its financial statement.

The Lightning Network, created in 2015 to make Bitcoin blockchain more scalable, has seen a surge in popularity.