SatoshiPay launches its B2B payments platform
Distributed ledger technology, such as blockchain, has been hyped as the future of payments, but with only modest results so far. Now, Blue Star Capital, one of the investors in DLT payments startup SatoshiPay has announced that the company has unveiled its new cross-border B2B payments platform, DTransfer.
The new platform is built on SatoshiPay’s blockchain technology and Stellar network. According to the press release the company has aiming to establish this as the new standard in global payments which will focus on ‘speed, cost and transparency’. DTransfer will integrate currency exchange into each transaction and will allow customers to track payments in real-time and also allow approved banks and businesses to join a compliance network to share KYC/KYB data.
“The launch of DTransfer is an important step in SatoshiPay’s diversification into B2B payments,” said Tony Fabrizi, CEO of Blue Star Capital.
The platform has been rolled out and has connected its payments platform to banking network in Europe, US, Mexico, Nigeria and Tanzania. Blue Star currently owns a 27.7% share in the company.
Earlier this year, Stellar Development Foundation (SDF) has made $550,000 investments towards the development of B2B cross-border payments solution and digital wallets which will be developed by SatoshiPay.