SVRN acquires FastNEAR to bolster NEAR ecosystem infrastructure

Nasdaq-listed company SVRN has acquired FastNEAR, a provider of infrastructure services for the NEAR ecosystem. FastNEAR provides the backend services that NEAR wallets and applications use to read blockchain data and submit transactions. The company reports processing more than 3.5 billion requests per month and maintaining over 100 terabytes of data.

As part of the deal, FastNEAR co-founders Evgeny Kuzyakov and Mike Purvis have joined SVRN. The acquisition follows SVRN’s previous strategic shift toward digital assets, including a significant position in NEAR tokens. While FastNEAR will operate as a wholly owned subsidiary, the NEAR protocol’s consensus and rules remain independent.

Following the announcement, the price of the NEAR token has shown upward momentum, rebounding from recent support levels as market participants react to the acquisition news.