NYDIG acquires Bottlepay for $ 300 million, a startup specializing in payment via the Lightning Network

NYDIG is betting on the Lightning Network

The Lightning Network, this Bitcoin network (BTC) scalability solution, continues to develop. In addition to the advances made by developers, the adoption of the Lightning Network also requires its democratization among the masses and businesses.

Latest proof to date that it is attracting more and more interest from institutional investors, NYDIG has just acquired Bottlepay, a British startup created in 2019 and specializing in micropayments via the Lightning Network.

The financial terms of the transaction were not disclosed, but several sources close to the subject mentioned that NYDIG granted Bottlepay the equivalent of 3% of its own shares, an amount estimated at 300 million dollars.

Moreover, the British startup had raised $ 17.5 million in February 2021, a fundraiser in which NYDIG had participated.

“When we set out to build Bottlepay, we wanted to unlock the financial infrastructure of the future,” said Pete Cheyne, founder of the startup. “We believe we have done this in a way that will revolutionize the payments industry and make it fairer for everyone, be it small businesses, creators or end consumers. “

With this acquisition, NYDIG plans to integrate the Lightning Network infrastructure developed by Bottlepay into its own platform.

Intended for institutional investors, the NYDIG platform indeed offers several services for Bitcoin, in particular asset custody, trading and lending.

“We believe that the next chapter of Bitcoin will be about Bitcoin, with a capital B, the network [et non l’actif, NDLR] Said Ross Stevens and Robert Gutmann, co-founders of NYDIG. “NYDIG’s mission is to make Bitcoin accessible to everyone, and this acquisition brings us closer to that goal. “

👉 On the same topic – The Lightning Network could reach 700 million users by 2030

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About the author: Clément Wardzala

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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.

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