aeternity buys stake in SatoshiPay

Posted 21 March, 2019

aeternity has reportedly acquired a stake in SatoshiPay that provides micropayment services.

The company stated that the purchase was made during the latest funding round launched by SatoshiPay. Other investors at that round included Borsenmedien AG, AERGO and  Daniel Masters of CoinShares and SatoshiPay CEO Meinhard Benn.

"GREAT NEWS: #aeternity partners with @SatoshiPay to offer unprecedented #micropayments service ....æternity just acquired a stake in SatoshiPay which will now use the unique AE #StateChannels to build fastest micropayments! ", wrote the company on its official Twitter account.

Under the agreement, the payment service provider SatoshiPay will apply the instruments provided by aeternity to boost handling capacity of its payment tool.  A representative of SatoshiPay noted that aeternity would bring to them such competitive advantage as high speed of transactions, state channels along with low fees. As a result, this cooperation is said to result in the service that cannot be offered on other blockchains.

As commented CEO at SatoshiPay, aeternity is just their company needs – high speed and cheap transactions. 

"Acquiring a stake in SatoshiPay enables æternity to integrate a nano payment solution with prime partners into our thriving blockchain ecosystem, where applications are built on the foundation of blockchain and smart contracts. Open source developers will be able to integrate nano payment functionality via SatoshiPay for any types of digital content, data or services," Yanislav Malahov, founder of æternity.

Axel Springer SE is believed to be among the first customers that may enjoy a joint aeternity/SatoshiPay. For reference, Axel Springer SE is one of the major European digital content holdings which runs Business Insider, Upday, Bild and Die Welt. With this service, it will become able to offer digital content priced at cryptocurrencies via the wallet provided by SatoshiPay.

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