Web3 payment processing company DLT Payments said it has received $120,000 investment from startup accelerator Techstars Berlin to support its work developing payment solutions for digital assets, stablecoins, and central bank digital currencies (CBDCs) and accelerate their adoption as payment methods.
In a Friday (Nov. 4) press release announcing the news, DLT Payments said its technology allows businesses to accept more than a thousand digital assets at the point of sale, as well as facilitating automatic conversion to stablecoins.
“We are building a Web3 payment gateway for businesses seeking to increase sales in the highly desirable Gen-Z and millennial demographics,” DLT Payments CEO Kenneth Kumor said in the release. And “with the support of Techstars Berlin we will deliver our core vision of Payment Diversity: the belief that everyone should be able to exchange value in a way that aligns with their personal preference.”
Techstars accelerators typically run three-month programs that provide startup founders with mentoring, networking and investment opportunities. Successful global Techstars alumni include Chainalysis and other startups in the crypto space.
“By giving people and companies a genuinely inclusive way to exchange value while respecting the diversity of preferences of all involved, DLT Payments is fully aligned with the Techstars mission of tackling the big questions of our time,” the Estonian company said in the release.
Currently, Techstars Boston is in the middle of a crypto-focused program in collaboration with the Algorand foundation. The program is designed for startups that focus on web3 technologies that cut across decentralized finance (DeFi), gaming, CBDCs and more.
In a similar development, the Stellar Development Foundation (SDF) and MoneyGram formed a partnership with Techstars to launch an accelerator program aimed at fostering blockchain innovation in Latin America.
See also: MoneyGram, Stellar Foundation Team with Techstars on a LatAm Blockchain Accelerator
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