Stellar is funding SatoshiPay with $ 1 million

SatoshiPay’s blockchain micropayment service has secured a strategic investment of 550,000 euros from the Stellar Development Foundation (SDF), the non-governmental cryptocurrency organization for the Stellar currency.

According to a press release today, this is the third investment made by SDF in SatoshiPay, and it should above all help the micropayment provider to develop and market its new commercial B2B solution for cross-border payments.

The product is currently being tested, with a closed alpha version due to be released by mid-July and a public beta in Q4 2020.

Prior to that, the Stellar Foundation and SatoshiPay had a long history of collaboration, which is not surprising given that the provider of micropayments was one of the first companies to use Stellar in the retail network.

“SDF is a key partner of SatoshiPay, providing support and partner support for Stellar’s decentralized network. This investment will strengthen the already strong relationship that exists between the two organizations and will give a strong advertisement for SatoshiPay, “the statement said.

“The investment is provided in the form of convertible banknotes, which will be converted during the next round of financing of SatoshiPay.”

Our growth over the years would not have been possible without SDF, which has been a key partner in the development of our technology, which continues today with this investment, “ said Meinhard Ben, CEO of SatoshiPay.

As previously reported, the Stellar Foundation is funding a program for the $ 1 million SatoshiPay grant in February 2019. At the time, this was part of SatoshiPay’s move to gaming, streaming and tips on social

media.In January 2019, SatoshiPay also partnered with Axel Springer, the largest The partnership seeks to support online journalism by offering alternative ways to win tips for news.