We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
There is reference to recurring REVENUES in the Satoshipay Update RNS in December 2020. They haven’t disclosed what they are because I suspect that would be commercially sensitive at this stage of Dtransfer development.
Meinhard Benn, CEO of SatoshiPay commented, "We are very pleased with progress made in 2020, particularly in the B2B cross-border money transfer space by launching our new service DTransfer. We are seeing strong market interest and have signed 11 business clients from around the world, expecting to transfer over £70m annually using DTransfer. This is just the start, as new clients are being added every month. It feels like we have created a hit product and we will endeavour to build recurring revenues in 2021."
Tony Fabrizi, CEO of Blue Star commented, "Today's announcement regarding the issuance of a new Euro stablecoin on the Stellar network is further evidence of the growing momentum and support building behind SatoshiPay's DTransfer cross border payments platform for businesses. There is clearly strong appetite for the product and we look forward to reporting on the company's progress next year."
No problem Blu we can agree to disagree :)
One thing i'm sure we both agree on is that Satoshipay need to produce a positive update in the very near future.
I only bought into BLU a few months ago (although was in v briefly a couple of yr's ago) so have admittedly not had to endure the suffering of LTH's.
I do think though that the stars are starting to align on the esports side of things so with a good Satoshipay update we could be at the bottom of the curve here.
jOHNO
i am correct in EVERYTHING i have stated.
show me evidence of any revenue at Satoshipay !!
you seem content to give Satoshipay the benefit of the doubt, i am unsure as to how long you have been invested or indeed if you have researched back far enough to see what has gone before (or has not, to be more accurate )
you just can not argue against what i have stated as there is absolutely no evidence for you to argue with ;) , much as i applaud your "faith".
I am totally right to say Satoshipay as a private company does not need to provide revenue figures because that as a fact is what it has done. The fact that larger private companies have to provide full audited accounts is not relevant to a discussion on Satoshipay , who only have to provide very basic accounts.
I am not sure what the intent of your post was other than to insult the intelligence of other posters who you seem to think are incapable of basic research and understanding .
ICB
"We all know there are no revenue figures available and Satoshipay as a private company is not required to provide revenue figures in its last filed accounts to 31/12/2019."
I would appreciate less of the "we all know". Until I pointed it out the other day, most did not know. I would also say that you are totally wrong when you say "as a private company is not required to provide revenue figures". The requirement to provide revenue figures depends on the size as well as the structure of the company.
Blue - you are correct in that the micropayments did not work out. The market too small at this moment in time but at least the company recognised that. Instead of flogging the dead horse they have identified a much bigger market so all good.
It may well be the case that Dtransfer consider their revenue figures to be commercially sensitive at this time. I am sure they will release them when they believe it is in their best commercial interests to do so such as prior to an IPO.
And 200 billion being the target market just shows how much we would be worth if only scratch the surface and win a fraction of that business.
Took the words right out of my mouth ICB. DTransfer has only been operational for just over 6 months so although it's using the same underlying platform as the original payments business it is still in startup phase.
Blu - I understand you want to see some revenue which is understandable for any business. That'll come with the accounts, as ICB suggested.
You are aware aren't you that this is AIM and that stocks here are able to HEAVILY multibag without a sniff of revenue??? This is not the FTSE!
It is a fact that blubutton can correctly spell revenue in CAPITAL LETTERS. The rest of his facts are irrelevant and pointless. We all know there are no revenue figures available and Satoshipay as a private company is not required to provide revenue figures in its last filed accounts to 31/12/2019.
We all know Satoshipay is 7 years old but as it’s main business is now Dtransfer which is only 7 months old that is irrelevant so a years revenue figures for Dtransfer don’t exist.
"Cross border payment fees currently amount to approx 200BILLION p/a globally."
and of the above, what are Satoshipay accruing in REVENUE?
what have you heard in the past several months that they are accruing in REVENUE?
what have you seen in BLU star RNS details that they are accruing in REVENUE?
with the last big thing, micropayments, what did they accrue in REVENUE?
look at their financial details at companies house, what is their declared asset position and REVENUE?
this is not a startup company old fella, its been operating for 7 years now !!
i'm not going to filter you JohNO77 , you at least attempt to argue your position, and a market is a product of two way opinion.
you do make it rather easy to pick holes though and there is absolutely no way what i have stated can be dismissed, they are FACT !!
this the type of company if successful (customer adoption) that can achieve multi dozen billions valuation fairly quickly
I think there will be funding round coming up for Satoshipay pretty soon. Meinhard was interviewed in approx October time and stated that they would raise this year.
A sniff of positive news beforehand would be a nice catalyst for a jump from last years 15mill valuation.
I'm just interested in the speed of adoption, how quickly can they gain new clients. This is a growth stock so am not too interested in traditional valuation metrics at this stage.....If anything positive is released then this can easily blow up on sentiment and momentum alone.
Cross border payment fees currently amount to approx 200BILLION p/a globally.
well done JohNO77
a post of substance, it would seem you have at least a grounding in financial markets.
however, there is still no argument against the requirement for revenue details, as and when we get an update detailing revenue from Satoshipay, my stance will remain.
first and foremost i am a BLU shareholder however Satoshipay is and has been for MANY years now our largest investee and for MANY years now we have had nothing concrete from a revenue perspective.
you of course see the operative word, REVENUE, without revenue , what's the point !!!
Bon Chance
The SatoshiPay accounts for the period ending 31st December was posted on Companies House on 26th May 2020. So we should get the latest reports should be filed in a few weeks. Because the company is so small then only a very condensed version will be posted. Hopefully more information will be shown on the SatoshiPay web site.
Blu
What you actually asked me was why i thought it had been a good update. I was driving for most of the morning hence no time to write you an essay. I thought the Dec update was clearly good as it illustrated that 11 clients had been amassed in less than two months and that the value of transactions via DTransfer would be approx 70m. I was merely speculating that if they had obtained that amount of clients in such a short time frame that it's not much to assume that the numbers could have grown substantially from that point onwards. Plus the more recent updates re the EUR stable coin etc have been highly positive (all points well made by ICS earlier).
You're quite right that revenues have not been mentioned anywhere as of yet but clearly the quicker the client take up the more revenue will be generated. I actually questioned our pricing strategy a few weeks back as apparently we're pitching at approx 90% cheaper than most conventional transfers. I don't want us going in too cheap otherwise you're too reliant upon mass adoption / volume...
Gotta go....
Duke
Tongue in cheek comment fella, i'm winding you up just as you did yesterday ;)
JohNO77
i did ask you for substantive , meaningful comment, you failed.
you said they had picked up a few more clients, it's not number of clients but revenue that counts., in case you don't quite understand the equation.... revenue leads to the potential of profit then to eps from which you can calculate a p/e ratio to value against peers.
i would be delighted to see actual revenue figures from Satoshipay
number of clients increasing does not help with this, if revenue never stated.
do let me know you understand what i have attempted to explain to you.
Excellent summary ICB888
Yes Satoshipay took a new direction via DTransfer back in September. They have had a cracking start so far.
All the moaning about Satoshipay does make me chuckle.... Maybe some here missed those rns'es?
Ex lent long post just come on get on with it that’s all updates ..where are we going ..we know where we have come from it’s about now tomorrow and beyond etc etc then plan they have had long enough to oil the engine polish the chrome etc
The negative comments about Satoshipay continue from various posters. Perhaps they need reminding that Dtransfer was only officially launched in September 2020 and from the RNS on 15/12/20 it was making good progress and there is no evidence to suggest that this progress is not continuing
Update on SatoshiPay Investment
Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, notes the following update made by its investee company SatoshiPay.
SatoshiPay has today announced that, in respect of DTransfer, it has signed an agreement with German Bankhaus von der Heydt ("BDVH") to become the first user of the bank's fully compliant euro-backed stablecoin ("EURB").
BDVH, in partnership with Bitbond, has introduced EURB on the Stellar network. Bitbond was responsible for the development and integration of EURB and BDVH provides its banking infrastructure and regulatory framework. EURB is the first fiat asset directly backed by a banking institution on Stellar and will allow instant money transfer on blockchain.
SatoshiPay intends to integrate EURB into its cross-border money transfer service. BDVH establishes a stable on and off-ramp for EURB transactions with instant EUR-based bank transfers within the Single Euro Payments Area (which comprises 36 European member-states). This will provide users with an easy solution to instantly send and receive euro-based payments.
Blue Star currently has a 27.7% interest in SatoshiPay's share capital.
Meinhard Benn, CEO of SatoshiPay commented, "We are very pleased with progress made in 2020, particularly in the B2B cross-border money transfer space by launching our new service DTransfer. We are seeing strong market interest and have signed 11 business clients from around the world, expecting to transfer over £70m annually using DTransfer. This is just the start, as new clients are being added every month. It feels like we have created a hit product and we will endeavour to build recurring revenues in 2021."
Tony Fabrizi, CEO of Blue Star commented, "Today's announcement regarding the issuance of a new Euro stablecoin on the Stellar network is further evidence of the growing momentum and support building behind SatoshiPay's DTransfer cross border payments platform for businesses. There is clearly strong appetite for the product and we look forward to reporting on the company's progress next year."