NYDIG, a leading bitcoin company, has announced the acquisition of the real-time bitcoin payments company, BottlePay, though details of the financial transaction were not disclosed to the public.
BottlePay is mainly focused on micropayments which have always been a challenge especially in the crypto industry due to the slow speeds and also high gas fees. The high fees have made most of the micropayments unviable and hence not many companies have focussed on using cryptos for micropayments. But the company came out with an app that uses the Bitcoin Lightning Network and this app helps to reduce the fees to a great extent and also improves the speed and convenience of the micropayments. It also easily integrates into various social media platforms like Twitter and Discord which has made it a favorite among the younger generation of social media users and content creators.
“When we set out to build Bottlepay, we wanted to unlock the financial infrastructure of the future,” said founder, Pete Cheyne. “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.”
With this acquisition, NYDIG will now be able to integrate the Bottlepay Bitcoin Lightning solution into its platform and use it for handling micropayments. The micropayment industry is a very large and untapped industry with a lot of potentials, One of the prime uses of crypto is to use it to reach some of the unbanked regions of the world where only the digital assets would be able to reach. In such a situation, micropayments would be key as they are likely to be used most in such regions. This will level out the playing field for all and open up the crypto to the mainstream around the world. This would also be a compliant solution that is welcomed by the authorities and regulators around the world which is likely to be a key for all crypto-related businesses in the future.