The Big News in Bitcoin
Hold onto your hats, Bitcoin enthusiasts! NYDIG has taken a bold step by acquiring UK-based micropayment service Bottlepay in a deal estimated between $280 million and $300 million. Who said crypto couldn’t make headlines, right?
A Tiny Company with Big Ambitions
Bottlepay isn’t just any micropayment service; it harnesses the power of the Bitcoin Lightning Network. This nifty piece of technology allows users across the U.K. and Europe to make tiny Bitcoin transactions, or micropayments, and even juggle traditional currencies like the pound and euro. Talk about innovation!
NYDIG’s Investment Journey
NYDIG isn’t a stranger to Bottlepay. Earlier this year, they participated in the company’s $15.4 million seed funding round, which was led by the British billionaire Alan Howard. Back then, Bottlepay had a valuation bounding past $50 million, and now look at it—talk about a glow-up!
The Bottlepay Comeback
After halting operations back in 2019 due to EU regulations that threatened user privacy, Bottlepay has made a comeback. They revamped their app to adhere to the European Union’s 5th Anti-Money Laundering Directive, which aims to enhance transparency in digital transactions. It’s like they went through a corporate spa day!
Vision for the Future
Pete Cheyne, the founder of Bottlepay, expressed excitement over the acquisition, stating, “When we set out to build Bottlepay, we wanted to unlock the financial infrastructure of the future.” Joining forces with NYDIG, a titan in the industry, seems like a match made in cryptocurrency heaven. And let’s not forget the joint statement from NYDIG leadership: “The Bottlepay team has built world-class infrastructure for Lightning and bitcoin payments.” Sounds like they’re ready to revolutionize the game.
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