August 2019 – neoFIN Hamburg’s subsidiary SatoshiPay announced two interesting collaborations in July:
Bitbond, also known as Germany’s first STO, will cooperate with SatoshiPay, the provider of micropayments. Bitbond will integrate the wallet developed by the Berlin start-up. Investors will then be able to make their transactions securely, quickly and at minimal transaction costs.
But the cooperation is not the only coup SatoshiPay landed in July:
The political online magazine FairPlanet now also relies on the Berlin blockchain pioneers. It will introduce payment processing for micropayments to pay for editorial content. Each payment is made via a so-called SatoshiPay wallet in which the crypto currency Stellar Lumens is used. For the FairPlanet reader, this means fast, easy and, above all, secure access to content requiring payment, or donation with just one click.
SatoshiPay is a FinTech company based in Berlin that is one of the pioneers in the areas of blockchain and crypto currencies. CEO and shareholder Meinhard Benn, himself a passionate developer from the very beginning, founded the company in 2014. SatoshiPay focuses on so-called micropayments, very small payment amounts. This even goes down to nanopayments, i.e. amounts that are less than one cent.
Who needs such a thing? Publishers, for example, who have been trying for years to monetize their online offerings – a huge challenge, because the transaction costs of conventional methods are out of proportion to the revenues. SatoshiPay has developed a simple, cross-website and cross-device blockchain solution for 1-click payments with extremely low transaction fees. Individual elements on websites such as articles, graphics, videos or images can thus be specifically downloaded and monetised in real time.
A concept that inspires: Neofin joins a list of well-known investors, including Börsenmedien AG, Axel Springer Plug and Play Accelerator GmbH and the two independent blockchain organizations Aeternity and Aergo. SatoshiPay’s partner Stellar.org is committed to distributing 50 million lumen credits (worth ~€5 million) to SatoshiPay users to drive business growth.
The founders’ clear goal is to create a unicorn. One of the milestones on this path will be the upcoming IPO. SatoshiPay will then be listed in London as one of the first blockchain companies to offer a real and mature application of the technology.