A crypto payment infrastructure provider has revealed a new partnership worth millions of euros.
Eligma says Bitcoin.com and Switzerland’s Pangea Blockchain Fund have contributed 4 million euros (about $4.4 million) to the continued global expansion of Elipay — infrastructure enabling merchants in brick-and-mortar stores to accept instant payments in a plethora of cryptocurrencies. The company says this makes it one of the few startups from the 2018 public crowdsale period to continuously demonstrate the utility of its token and products.
The new round of investment will see Roger Ver, the founder of Bitcoin.com, become an Eligma board member, and a radical rebrand is planned as the company strives to reach new merchants.
Dejan Roljic, the CEO of Eligma, says a major sticking point with crypto payments at present is how it can take several minutes for transactions to be confirmed — a downside that’s described as “unacceptable in daily shopping.” He said Elipay saves time and enables purchases to be cleared instantaneously — with businesses spared from crypto volatility thanks to how funds are immediately converted into fiat.
The entrepreneur added: “The development of finance is going towards cash becoming a thing of the past. Among other things, this is because doing business with it is quite time consuming and expensive. We must not forget that cryptocurrencies were envisioned as the electronic cash of the future.”
According to Roljic, merchants and companies the world over are regularly getting in touch with Eligma — eager to see how cryptocurrencies can enhance their business operations and open the door to new consumers. “This is not only an important recognition of all our hard work and persistence, but is also proof of the practical utility of our ideas and solutions,” the executive explained.Eligma’s new partners are excited
For Bitcoin.com and the Pangea Blockchain Fund, the potential of Eligma and Elipay kno...