Bottlepay launches in Europewritten by Bella Palmer
The company raised £11m in seed funding round in February this year
Bottlepay, a financial technology (fintech) app which allows payments in bitcoin as well as fiat currencies, is being rolled out across Europe following its launch in the UK earlier this year.
Users across the continent can, Bottlepay says, now make instant, cross-border payments using euros and bitcoin.
The company, which is backed by billionaire hedge fund manager Alan Howard among others, raised an £11m ($15m) seed funding round in February 2021.
Pete Cheyne, Founder of Bottlepay, says the company is attempting to rewrite the rules when it comes to cross-border transactions.
Until now, it has been difficult to understand the utility of bitcoin other than it being a store of value. By launching in Europe, we are demonstrating the power of bitcoin as an open-source monetary system, he said.
We have created a payment rail that can process cross border payments immediately, at a low cost. It’s a much-needed update on the clunky, outdated payment systems available up until now, and a leap towards better financial inclusion for everyone, he added.
The app, which is powered by the Lightning Network and has no minimum payment level, can be topped up with euros which are then used to buy bitcoin, as well as to make payments. The bitcoin can also be stored in a digital wallet.
Both the UK and European versions of the app can be used to make bitcoin payments anywhere that accepts the crypto currency. Bottlepay also has a unique integration with social media applications, principal Twitter although it is working to launch in Reddit, Telegram, Discord and Twitch in the coming weeks.
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