Stellar Invests $550k in SatoshiPay Blockchain
Stellar Development Fund (SDF) has closed a strategic investment of $550K in SatoshiPay, a platform for connecting the world through instant payments utilizing Blockchain Stellar platform. Fintech company, SatoshiPay based in London and Berlin was one of the earliest adopters of Stellar. Launching their business with an innovative solution for micropayments for publishers, they created a new way to monetize content through frictionless nanopayments by leveraging blockchain technology. Six years later, they’ve expanded their product suite to include a B2B solution for cross-border payments as well as a digital wallet for financial inclusion.
“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,” said Denelle Dixon, SDF CEO and Executive Director. “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.”
B2B payments are expected to reach a $218 trillion valuation in the next three years, SatoshiPay’s latest solution for B2B cross-border payments positions the company to accelerate growth. The solution is designed for commercial payments, allowing businesses to make commercial payments to vendors across borders.
“With a surge in demand for instant B2B payments, and blockchain maturing and enabling a payments revolution, we believe we have a head start through our proven, scalable blockchain business model,” said SatoshiPay CEO, Meinhard Benn. “Our growth over the years wouldn’t have been possible without SDF, who has been an essential partner to us in the development of our technology which continues today with this investment.”