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NYDIG procures Bitcoin micropayments firm Bottlepay

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  • NYDIG has acquired the British Bitcoin micropayments firm
  • The purchase of Bottlepay is made for an estimated fee of about $280 million to $300 million
  • Bottlepay enables users across the United Kingdom and Europe to transact small amounts
  • NYDIG’s latest acquisition brings it a step closer to fulfilling its mission to bring Bitcoin to all

NYDIG a subsidiary of Stone Ridge, is fusing high tech with institutional-grade finance to usher in the new era of finance. The firm delivers BTC products across industries from banking and insurance to finance technology and nonprofits. Indeed, the firm fishes stringent regulatory standards with ironclad technology to make the flagship crypto coin universal. Recently, it was officially announced that the Bitcoin company has acquired Bottlepay, a BTC micropayments firm. The firm micropayments platform is powered by the BTC Lightning Network, and is revolutionizing the way individuals transact across the world.

NYDIG partook BTC micropayments firm’s funding round

New York Digital Investment Group took part in Bottlepay’s seed funding round in March 2021. The formerGoldman Sachs partner has announced that it acquired Bottlepay, the United Kingdom based micropayments services. Notably, the purchase is made for an estimated fee of approximately between $280 million and $300 million. 

It is significant to note that the Bitcoin firm has previously also participated in the firm’s $15.4 million seed funding round that was held in February. Indeed, the capital raising round was led by the British billionaire investor Alan Howard, after which the firm was valued at more than $50 million.

Bottlepay offers potential payments service

Bottlepay is powered by the Bitcoin sidechain, the Lightning Network. Utilizing the potential of the sidechain, the platform enables users across the United Kingdom and Europe to transact small amounts. Such small amounts are known as micropayments, that are made through Bitcoin and traditional fiat currencies as the Great Britain Pound and euro.

In March, the platform had integrated Bitcoin payments into social network platform Twitter, after the previous integration of Discord and reddit. Hence, the users of the social platforms can conveniently send and receive Bitcoin with simple tweets. According to Pete Cheyne, the founder of Bottlepay, the team wants to unlock the financial infrastructure of the future. Hence, the firm is now excited to join an industry leader like NYDIG, who understands the true vision of the firm.

NYDIG’s mission to bring BTC to all

Ross Stevens, the founder and executive chairman of NYDIG and Robert Gutmann, the co-founder and CEO of NYDIG, share the same view when it comes to regulatory credibility they have witnessed within the services of the micropayments firm. According to Stevens, the Bottlepay team has built world-class infrastructure for the Bitcoin sidechain. Indeed, the team behind the microspayments firm have done the same with the level of regulatory and compliance that is rigor to their clients. Hence, NYDIG’s latest acquisition brings it a step closer to fulfilling its mission to bring Bitcoin to all.

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