Bitcoin (Bitcoin) New York Digital Investment Group (NYDIG), an investment company, announced the acquisition of Bottlepay, a small payment service in the United Kingdom, at a price of between US$280 million and US$300 million.
NYDIG previously participated in the company’s $15.4 million seed round in February. This round of financing was led by British billionaire investor Alan Howard, and the company was valued at more than $50 million.
Bottlepay’s mobile application service uses the Bitcoin Lightning Network to enable users in the UK and Europe to transfer small amounts of Bitcoin and traditional legal currencies (such as the British pound and the Euro), called micropayments.
In March, following the previous integration of Discord and Reddit, the digital application announced Integrate Bitcoin payments into the social networking platform Twitter, Enabling account holders to send assets using the simple tweet format “@bottlepay send 1,000 sats to @twitteruser”.
Bottlepay founder Pete Cheyne shared his optimism about the future of payment services after NYDIG’s acquisition:
“When we set out to build Bottlepay, we hope to unlock the financial infrastructure of the future. We are very happy to join an industry leader like NYDIG, who shares our vision for the future of currency.”
Bottlepay ceased operations at the end of 2019 Introduce new anti-money laundering regulations In the European Union, its British developer Block Matrix stated that strict legislation endangers the identity and privacy of the community and therefore refused to proceed with the project.
After this incident, Bottlepay overhauled the core infrastructure of its Bitcoin wallet to comply with EU Anti-Money Laundering Directive No. 5, An initiative to improve the transparency of digital transactions across Europe.
NYDIG founder and executive chairman Ross Stevens and NYDIG co-founder and CEO Robert Gutmann issued a joint statement on the regulatory credibility they witnessed in the Bottlepay service:
“The Bottlepay team has established a world-class infrastructure for Lightning and Bitcoin payments, and they have done so with the same level of regulation and compliance that our customers expect of NYDIG today. NYDIG’s mission is to Coin brings everyone, and this acquisition brings us one step closer to achieving this goal.”