A former partner of a leading global group, Goldman Sachs, NYDIG, participated in the seed funding investment phase of Bottlepay earlier in March 2021.
NYDIG, a Bitcoin investment company, has announced the details regarding the acquisition of Bottlepay which is a UK based micropayment service established in the year 2019. The potential fee will be between $280 and $300 mn. Through its mobile app, Bottlepay facilitates small amounts of transactions through the UK and Europe. These small transfers are said to be micropayments done in BTC, and conventional fiats like euro and pound sterling. The micropayments were not economically feasible with fiat due to the high commission charges and fees attached. However, Bottlepay made it possible through BTC transfers.
NYDIG had also participated in Bottlepay’s seed funding round held in Feb 2021 earlier. This was driven by a British investor at that time and the company’s value reached over $50mn. Earlier in March, the company declared integration of BTC payments through Twitter.
The founder of Bottlepay has shown his enthusiasm for the future plans and mentioned that the company is all set to work towards the future of financial infrastructure by being part of NYDIG for this journey.
NYDIG follows a high level of operating, regulatory and security standards. The same level of compliance and regulatory standards are reflected by the world-class infrastructure of Bottlepay. NYDIG works with the mission of making Bitcoin accessible to all, and with this acquisition, they claim to be one step closer. This is because both companies have a common vision. While NYDIG wants to bring BTC to the masses, Bottlepay envisions revolutionising the mode of payments and making BTC accessible to small businessmen and consumers.
NYDIG also looks after a platform for BTC transactions with FIS, a fin-tech company that has invested a confidential amount in NYDIG. The company along with FIS has also partnered with Quontic Bank to introduce BTC reward cards.
