Bitcoin-focused financial services and technology provider NYDIG on Monday (Nov. 1) announced its acquisition of real-time bitcoin payments app Bottlepay for an undisclosed amount after previously investing in the company during its seed round.
Bottlepay has used Bitcoin’s Lightning Network to allow the growth of global micropayments through bitcoin, pounds, euros and other currencies across Europe and the U.K. without exorbitant fees, finding an answer to what founder Pete Cheyne called “the greatest unsolved problem in finance.”
“When we set out to build Bottlepay, we wanted to unlock the financial infrastructure of the future,” Cheyne said in the company announcement. “We believe we’ve done so in a way that will revolutionize the payments industry and make it more equitable for everyone, from small businesses and creators to end consumers.
“We’re excited to be joining an industry leader like NYDIG, who shares our vision for the future of money,” he said.
NYDIG will integrate the Lightning Network’s infrastructure into its full-stack Bitcoin platform.
“We believe that the next chapter of Bitcoin will be about Bitcoin — big B — the network,” said Ross Stevens, founder and executive chairman of NYDIG, and Robert Gutmann, co-founder and CEO of NYDIG, in a joint statement.
“The Bottlepay team has built world-class infrastructure for Lightning and bitcoin payments, and they have done so with the same level of regulatory and compliance rigor that our customers expect from NYDIG today,” they said. “NYDIG is on a mission to bring bitcoin to all, and this acquisition brings us one step closer to fulfilling that goal. We are excited to welcome Bottlepay to the NYDIG team.”
Related: FIS Teams With NYDIG To Allow Bitcoin Purchases From Bank Accounts
NYDIG also oversees a platform for managing bitcoin transactions under a May agreement with FinTech company FIS, which also invested an undisclosed amount in NYDIG.
Last year, FIS and NYDIG partnered with Quontic Bank of New York to make Quontic the first FDIC-insured financial institution to offer a bitcoin rewards debit card.
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