Stellar Development Foundation invested $550,000 in SatoshiPay via convertible loan notes to support development of B2B cross-border payments solutions and digital wallets, marking the foundation's third investment in the London-based company.
The Stellar Development Foundation has made a $550,000 strategic investment in SatoshiPay through convertible loan notes, representing the foundation's third investment in the company. SatoshiPay is developing B2B cross-border payments solutions and digital wallets targeting the commercial payments market, which generates 170 billion euros annually in transaction fees. The company is currently testing its solution with a public beta launch expected in Q4. SatoshiPay was among the first businesses to use Stellar's ledger network commercially, having processed 650,000 euros in payments from over 200,000 accounts, and its open-source Solar wallet has been downloaded over 25,000 times across 40 countries.