(Alliance News) - Blue Star Capital PLC on Thursday noted Stellar Development Foundation's USD550,000 investment in SatoshiPay.
SatoshiPay is one of Blue Star's investee companies and the Stellar investment - by way of convertible loan notes - is the third by the foundation through Stellar's enterprise fund.
The money will be used to "support SatoshiPay to continue to develop its B2B solution for commercial, cross-border payments and its digital wallets". The funds will help with both marketing and development of the business-to-business SatoshiPay prpdict which is in testing right now before a public bet launch in the fourth quarter of the year.
Satoshi was among the first business users for Stellar commercially and has this far processed EUR650,000 payments from more than 200,000 accounts.
Blue Star Chief Executive Tony Fabrizi said: "The investment by [Stellar Development Foundation] is a great endorsement of SatoshiPay and comes at a critical time in the company's development and secures its funding needs for some time to come. The B2B business opportunity is significant and we are looking forward to the launch of the product in the next few months. We continue to believe that SatoshiPay has an exciting future."
Shares in Blue Star closed flat at 0.12 pence in London on Thursday.
By Anna Farley; annafarley@alliancenews.com
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