Acquisitions are not unusual in the cryptocurrency space, although they are not too commonplace either. For example, Bottlepay, a social media-oriented micropayments app built on Bitcoin’s Lightning Network, has been acquired by NYDIG. An exciting development that can change the public perception of Bitcoin for the better.
NYDIG Sees Merit In Bottlepay
- Fans of Lightning Network technology might be familiar with Bottlepay.
- The application leverages the LN to facilitate social, streaming, and micropayments through real-time funds transfers.
- More importantly, Bottlepay supports both Bitcoin and traditional currencies.
- Bottlepay’s technology is interoperable with any social media platform, making it a breeze to integrate.
- The team raised over $12 million in seed funding in February of 2021
- One of those investors was NYDIG, the company that has now acquired Bottlepay in full.
- Other investors in Bottlepay include Alan Howard, Fintech Collective, and both present and former Goldman Sachs partners.
- Following the acquisition, NYDIG will integrate Bottlepay’s Lightning Network technology into its full-stack Bitcoin platforms.
- Through that integration, financial institutions can begin offering crypto payments to retail customers.
- Bitcoin is gaining momentum globally, although mainstream adoption is still out of reach.
- NYDIG is convinced Bitcoin – as in, the Bitcoin network – will play a prominent role in the next evolution of financial products and services.
- BottlePay’s infrastructure for Lightning and BTC payments can pave the way for more use cases and broader adoption.
- More importantly, this technology stack by Bottlepay is regulatory compliant, which aligns with NYDIG’s vision.
- It is unclear how much NYDIG pays for the acquisition and whether any of Bottlepay’s staff are part of this agreement.
