The Stellar Development Foundation (SDF) has invested a further $550,000 (paid in XLM) to Berlin-based instant payment platform SatoshiPay.
This is SDF’s third investment in SatoshiPay bringing the Enterprise Fund’s investments for the year up to a total of $6.3 million. The latest investment will help grow SatoshiPay’s new product, allowing businesses to conduct cross-border B2B payments.
The new product branches out from their original micropayments solution targeted at online content producers.
SDF CEO and Executive Director Denelle Dixon says:
“As one of the first businesses on Stellar, SatoshiPay has demonstrated how this technology enables innovation, leveraging the network to create a growing platform for instant global payments.”
Dixon further adds:
“Their use cases speak to the scalability and sustainability and growth opportunities for businesses building on the network. We’re proud to support their growth with this investment.”
SatoshiPay has processed more than 650,000 Euros from over 200,000 accounts, their wallet, Solar has been downloaded by over 25,000 users spanning 40 countries.
Founded in 2014, the same year as SatoshiPay, SDF has shown continued support for them
SatoshiPay CEO, Meinhard Benn explains:
“Our growth over the years wouldn’t have been possible without the SDF, who has been an essential partner to us in the development of our technology which continues today with this investment.”
Source: Cointelegraph | Image: Pexels
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