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SatoshiPay Raises $550K Through Convertible Loan From Stellar Development Foundation

Roland James

Summary: SatoshiPay, the blockchain payments startup, has raised $550,000 through a convertible loan from the Stellar Development Foundation (SDF). The $550k was paid in Lumens (XLM), the native currency of the Stellar network. The transaction of all 8,204,187 XLM between SDF’s and SatoshiPay’s Stellar accounts took only five seconds and the network fees only cost $0.00006. ...

SatoshiPay, the blockchain payments startup, has raised $550,000 through a convertible loan from the Stellar Development Foundation (SDF).

The $550k was paid in Lumens (XLM), the native currency of the Stellar network. The transaction of all 8,204,187 XLM between SDF’s and SatoshiPay’s Stellar accounts took only five seconds and the network fees only cost $0.00006.

According to an announcement on May 28, SatoshiPay plans to use the funds to bring its new products to the market.

By Roland James

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