Coinsilium Group Limited (NEX:COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, is pleased to announce that SatoshiPay Ltd (‘SatoshiPay’), a Nano-Payments company in which Coinsilium has a 12.08% equity interest, has added PayPal (NASDAQ:PYPL) as a new medium for SatoshiPay users to recharge their accounts, opening up SatoshiPay’s services to 200 million active PayPal user accounts across 200 markets worldwide.
Meinhard Benn, Founder and CEO of SatoshiPay, commented: “We are super excited about adding the PayPal option to our platform as this means that every website with every imaginable target audience can start selling articles, PDFs, audio/video files or other digital goods using SatoshiPay. We are officially expanding out of the bitcoin and blockchain niche into a broader market of publishers.”
SatoshiPay is developing a two-way payment platform, which enables online content providers to monetise their digital content through the acceptance of nanopayments. SatoshiPay is headquartered in London with development led through its office in Berlin. Angel funding for SatoshiPay Ltd was supplied by Axel Springer Plug & Play and Henning Peters, seed funding was raised through publicly listed companies Coinsilium Group Limited (NEX:COIN) and FastForward Innovations (LON:FFWD). Development of SatoshiPay's nanopayment product started in April 2015 and its beta version was released in February 2016.