- SatoshiPay, which is owned in part by the AIM-listed Blue Star Capital, has launched DTransfer in various key global markets as part of its expansion into financial services for businesses.
- So far, the service has signed up a customer in the microfinance sector, while it has also announced that it will work with bank networks across the globe in regions such as Europe and North America.
- Blue Star Capital described the moment as a key one for the newer firm, and said that it would improve the speed and experience for end users.
An emerging blockchain-powered payments technology firm has announced a new business-to-business platform designed to make international money transfers faster.
SatoshiPay, which is a company invested in by Blue Star Capital, has named its new service ‘DTransfer’.
The service is designed around traditional blockchain and also the Stellar network, which is a decentralised digital asset network.
The new service builds the currency exchange aspect of the online money transfer process into the payment.
From there, end users can monitor how their transaction is proceeding as it moves.
On the provider end, this means that firms and financial services providers can participate in a regulation system that allows them to swap ‘know your customer’ and ‘know your business’ information.
Despite the newness of the service, DTransfer’s platform is already interlinked with financial services networks in various regions and major markets.
These include the US and Europe and also the major Sub-Saharan African remittance hub of Nigeria.
Mexico is also on the list.
As part of its expansion plans, it will now attempt to sign up to networks in regions across Asia and elsewhere.
In terms of clients, meanwhile, DTransfer has agreed its first customer.
This firm was not named in some press reports, but is understood to be a microfinance firm working in underbanked and unbanked regions.
According to a senior figure at Blue Star Capital, the move is part of a diversification journey for SatoshiPay.
Tony Fabrizi, who serves as the chief executive officer of Blue Star Capital, said: “The launch of DTransfer is an important step in SatoshiPay's diversification into B2B payments.”
He added that faster speeds, better prices and improved transparency were all on offer for the end user.
“DTransfer aims to provide customers with a quicker, more competitively priced and transparent process than the competing products provided by the banking industry,” he said.
Blue Star Capital, which is listed on the Alternative Investment Market (AIM) of the London Stock Exchange, owns just over a quarter of the share capital of the SatoshiPay business.
SatoshiPay is an innovative firm in the online payments sphere.
It was, for example, one of the original users of the decentralised Stellar ledger network, according to recent press reports.
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