Publication time: August 18, 2020
Source of information: BitcoinAssociation.net
Swiss-based Bitcoin SV payment processor Centi announced today that it has completed its first round of financing. This round of financing was led by Dr. Jürg Conzett, founder of Zurich MoneyMuseum, and Calvin Ayre, founder of Ayre Group and CoinGeek, and technology entrepreneur.
Centi was founded by Bernhard Müller, a long-time Bitcoin advocate, and the system enables merchants to accept digital currency payments through existing POS infrastructure. By integrating with existing POS systems and acquirers, which avoids the need for additional hardware, Centi provides companies with a simplified solution that allows them to start accepting Bitcoin SV payments. Compared with traditional payment networks, This brings lower fees for merchants.
From a merchant's point of view, Centi can be used without any changes. Since the product can be integrated with existing POS systems, neither additional hardware nor additional staff training is required. Customers use BSV to pay, but merchants use local legal currency to collect payments, which solves the problems related to accepting and accounting for digital currencies.
The first batch of merchants using the Centi payment system will be launched later this year, and plans to conduct first demonstrations with retail partners across Switzerland.
The Centi payment platform is specially built for the use of Bitcoin SV, because the BSV blockchain is the only solution-not only can perform fast transaction processing, but also have low and predictable fees, and can provide competitive advantages with traditional providers in the field. Unlimited expansion as needed. The transaction fees on the Bitcoin SV network are as low as 1/100 cents. In contrast, the transaction fees on the Bitcoin network are high and unpredictable (the average cost of Bitcoin in the past 3 months ranged from $0.55 to $6.64). Even if Centi charges a service fee, its system is cheaper for merchants than payment card fees.
In order to fulfill Bitcoin SV's more ambitious mission, which is to create a regulatory-friendly ecosystem that maintains legal behavior, Centi has become a member of the Financial Services Standards Association (VQF), a self-regulatory organization focusing on anti-money laundering by Swiss financial intermediaries.
Centi founder Bernhard Müller said when talking about the completion of this round of financing:
"I am honored to work with two experienced investors, Calvin Ayre and Dr. Jürg Conzett, to create a digital cash register for the 21st century. At this stage, expertise and business connections will be as important as investment. Being able to compete with top-tier businesses The cooperation of experts made me humble. They saw the commercial value of our concept and believed that Centi could realize and expand this vision."
Dr. Jürg Conzett also commented on his decision to support Centi:
"Due to the founder's excellent quality and dedication, coupled with BSV's capacity expansion and the desire to support commercial Bitcoin products, I invested in Centi. Centi is ready to integrate blockchain with an efficient and low-cost payment system Combine it and make full use of its advantages. In addition, it is possible to add features that are not available in other payment systems today."
Calvin Ayre pointed out that Centi may quickly promote the application of BSV payment methods, which contributed to his investment decision:
"In the field of digital currency, we need to rethink in order to get value from real utility. Centi's technology provides a breakthrough solution for merchants to easily adopt Bitcoin SV. The innovative technology developed by Centi is compatible with the scalable blockchain Combined, this combination is exciting, and I believe it will prove that Bitcoin SV has taken a crucial step in its development as the digital currency of choice."
The emergence of Centi reflects the rising status of Switzerland as a Bitcoin SV business center, and other BSV companies also hope to expand their influence in European countries.
To learn more about Bitcoin SV, including the products built on it (including Centi) and other features of Bitcoin SV, please sign up for the CoinGeek live conference (which will be held from September 30 to October 2 in New York and London), or register on www.coingeekconference.com for online access.
Currently, more than 400 projects worldwide are built on the Bitcoin SV blockchain. With rock-solid agreements and declining transaction fees, the Bitcoin SV ecosystem has developed rapidly, and we look forward to more unprecedented commercial applications in the future.