Coinify Expands To 34 European Countries

Coinify, a Danish bitcoin telephone commutation in addition to bitcoin payment processing platform is expanding its platform to all 36 European Union fellow member states nether the Single Euro Payments Area (SEPA) including Monaco, Malta, Republic of Iceland in addition to Croatia.

The SEPA projection was initiated inwards Feb of 2014, amongst an aim to brand cross-border Euro transfers equivalent to a domestic transfer inwards a country. Exact description of the projection is “To ameliorate the efficiency of cross-border payments in addition to plow the fragmented national markets for euro payments into a unmarried domestic one.”

Coinify plans to expand its services to the countries nether the SEPA projection to arrive fifty-fifty cheaper for those needing to brand cross-border remittances/transfers, amongst 0% transaction fees.

The Danish bitcoin startup completed an early on multi-million seed funding led past times SEED Capital, the largest tech-focused VC theater inwards the nation, hoping to move the leading bitcoin startup inwards Denmark’s cryptocurrency industry.

The investment from SEED Capital in addition to Accelerance allowed Coinify to instruct ane of the earliest European bitcoin exchange, Bitcoin Broker Bitcoin Nordic. Due to the acquisition, the bitcoin telephone commutation of Bitcoin Nordic began to piece of job equally a heart in addition to soul service of Coinify, amongst the founder Lasse Birk Olesen appointed equally the Chief Product Officer.

Coinify subsequently acquired the intellectual properties in addition to all merchant relationships of ane of the largest payment solution providers in addition to payment gateway developer inside Europe, Bitcoin Internet Payment System. Kris Henriksen, founder of Bitcoin Internet Payment System, said the fellowship volition straightaway focus on technological innovations.

Prior to the funding led past times SEED Capital, Coinify was supporting to a greater extent than than 6,000 merchants in addition to 7,000 only from Europe. Moreover, Coinify’s telephone commutation satisfied over 7,000 European users.

With their bitcoin telephone commutation in addition to merchant services solidified, Coinify began to grow its platform in addition to targeted markets including Sweden, the UK, Kingdom of Norway in addition to Kingdom of Denmark in addition to to found their presence throughout the European region. Coinify specifically targeted Federal Republic of Federal Republic of Germany in addition to the UK, due to the countries’ large e-commerce markets.

As of now, Coinify plans to seek for investments inwards the minute one-half of 2015, equally Chief Financial Officer Christian Larson stated “We hold back to enhance a meaning total to brand certain that Europe volition move playing a leading component division inwards this novel payment space. We believe that our strategy on providing the traditional payment service providers amongst dedicated service is our mode inwards to the market.”

As Coinify expands its service to 36 European countries listed nether SEPA, the bitcoin startup hopes to meet an increase of trading book inwards their telephone commutation in addition to to facilitate to a greater extent than individuals to ship cross-border payments throughout Europe.