SatoshiPay Receives €566,000 Investment From Crypto Specialist and Targets London IPO

  • Blockchain
  • 26.07.2018 09:41 am

SatoshiPay (‘the Company’), at the vanguard of providing frictionless global micropayment infrastructure based on blockchain technology, initially to digital content creators, has received a €566,000 cash injection from serial technology/crypto investor Daniel Masters and announced its intention to IPO in London.  Already backed by Axel Springer, one of Europe’s biggest media houses, as well as specialised funds including Blue Star Capital and KR1 and experienced business angels such as Jim Mellon, the Company is aiming to rapidly scale its micropayment technology and build on its existing media focussed clients. 

SatoshiPay CEO Meinhard Benn said, “We are delighted to receive our investment from someone who truly understands the crypto and payments arena.  Danny Masters, along with our existing investors have recognised that there is a huge opportunity in blockchain-based micropayments, particularly in the field of digital media content where publishers have a need for a commercial solution.”

SatoshiPay is transforming the market.  It offers two key services, a widget that online publishers can use to monetise their content and an Application Programming Interface (‘API’) for third parties, which allows businesses to build services on top of its technology, extending the market reach and revenue base.   Its client widget automatically installs a wallet directly in a user’s browser and allows paid access to premium content.  The same wallet can be used over multiple websites, without the need to create individual user accounts for different content providers. The credits can be used on any SatoshiPay-enabled website, app, or device.

Meinhard continued, “In essence internet users can think of SatoshiPay as a digital “pocket change” wallet for the web, they can pay small amounts (starting from as little as 1p), for web content like articles, blog posts, music, podcasts and videos.”

SatoshiPay has already partnered with technology news site The Register for a micropayments trial to monetise selected content on its website.  It also has partnerships for core infrastructure and services with blockchain provider Stellar Development Foundation, TEMPO Money Transfer and card payments company TransactWorld that assist with scalability, volatility solutions and payments on-ramping.  It is targeting content providers through its network and offering, as it believes it possesses the solution to monetising digital content.

Meinhard continued, “So far, the micropayments haven’t achieved mainstream adoption due to bad usability and high transaction costs.  With existing bank infrastructure payment service providers charging base fees of 10-30p per transaction plus a percentage, it makes it very difficult for digital vendors to maintain a viable micropayment business model.  With SatoshiPay, the payment amounts start from as little as a fraction of a pence, enabling the Company to strategically position itself to take advantage of an estimated US$10 billion fee market.”

Mr Daniel Masters is a serial technology investor and co-founded the world’s first fully-regulated Bitcoin hedge fund, Global Advisors Bitcoin Investment Fund Plc ("GABI").  He is Executive Chairman at CoinShares, a company focused on delivering the most fit-for-purpose crypto investment vehicles; He also works with XBT Provider, the issuer of Europe’s only publicly traded Bitcoin and Ether securities. 

 

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