Two Industry Leaders Join Forces to Make Acquisition of Digital Cash Faster, Easier and Less Expensive
November 15, 2016 – Blockchain, the world’s leading provider of digital currency and distributed ledger software, yesterday announced a partnership with Coinify, the leading blockchain payment & trading service provider, that will allow individuals to, for the first time ever, seamlessly and expediently fund their wallets.
The partnership will enable nearly instantaneous wallet funding without compromising user security or control. Given Blockchain’s market dominance (with over 50% market share it’s wallet is the world’s most popular, powering over 100 million transaction) this announcement marks a major milestone for the blockchain industry – one that is expected to spur increased user adoption of bitcoin.
“Digital currencies and peer-to-peer transaction networks have the potential to modernize a financial system that is currently failing over a third of the global population,” said Peter Smith, Blockchain’s Chief Executive Officer. “This announcement represents a giant step forward in making bitcoin, still a nascent currency, a more compelling and efficient financial solution for new users.”
Acquiring bitcoin and other digital currencies has, historically, been a difficult, slow, and risky process – hampered by high fees, long settlement delays, untrustworthy service providers, and opaque identity verification procedures. The Blockchain-Coinify integration will eliminate this friction, enabling near instantaneous wallet funding via credit and debit cards inside a single user interface. Users funding their wallets will be able to instantly authenticate payment methods and purchase bitcoin by confirming the values of two separate, nuanced transactions charged to their cards. Users will also be able to purchase bitcoin directly from their bank accounts, although wallet funding through this channel will only happen as fast (or as slow) as the bank transfers themselves are able to settle.
This significant industry milestone will materially improve the user experience and make it easier than ever for mainstream consumers and businesses to tap into the blockchain ecosystem. Continued Smith, “At Blockchain, we are on a mission to build an open, accessible and fair financial future, one piece of software at a time. This partnership is a huge step toward realizing that accessibility mission. For the first time, users will not be subject to the delays, complexities, and security risks that have plagued digital currency adoption in the past. This partnership will make our wallet infinitely more user friendly and, ultimately, more accessible for the mass market.”
Blockchain aims to dramatically accelerate the re-engineering and modernization of the global financial system by on boarding millions of individuals across the globe into open P2P transaction networks over the coming years. In order to realize that vision, Blockchain is focused on building a series of localized onramps into its wallet that will make the acquisition of digital cash fast, easy and inexpensive for both banked and unbanked consumers across the globe. This partnership with Coinify, which will first launch in the U.K followed by an expansion across Europe, is the beginning of that product evolution. Blockchain will beta test the integration with select invite-only participants, working user feedback and learnings into an enhanced product for full global launch.
Coinify Co-Founder and CEO Mark Højgaard said, “Coinify shares Blockchain’s mission to accelerate the adoption of digital currencies by making them more easily accessible. And we are honoured to be a part of this strategic partnership to serve millions of existing and new bitcoin users. With Blockchain’s dominant position in the cryptocurrency wallet market, I believe this will be a real game changer.”
Blockchain is on a mission to build a more open, accessible, and fair financial future, one piece of software at a time. Thanks to its rapid expansion and position as the world’s most popular bitcoin wallet, the firm’s technology is revolutionizing the $13T financial services industry by empowering millions across the globe to authenticate and transact immediately and without costly intermediaries. (www.blockchain.com).
Headquartered in Copenhagen, Denmark, Coinify ApS operate as a blockchain payment service provider (bPSP) with focus on extending blockchain currency payment processing and trading services to merchants and consumers respectively. Coinify serve global Payment Service Providers, online businesses, physical shops, and individuals. The company incorporated in 2014 and is backed by a multi million dollar injection from SEED Capital Denmark, SEB Venture Capital and Accelerace. With experience in working with digital currencies since 2010, the Coinify team has strong backgrounds in payments, finance, risk, ecommerce, and compliance areas. Coinify dominate the European market and are continuously expanding into Asian and global markets. The company was named ‘Emerging Star’ in Fintech 100 (an initiative by KPMG and H2Ventures); was elected part of the ‘European FinTech Top 100’; won the IFM Award for ‘Best Electronic Payment Solution’ and the GBAF Award for ‘Best Payment Solution Provider Denmark’. Visit www.coinify.com for more information.
Image credits: Blockchain and Coinify
This announcement can be also found at Blockchain’s blog and was featured by Nasdaq, Business Insider, Finance Magnates, Jeremy Liew, IBTimes, Financial IT, IBS Intelligence, CoinDesk, Bitcoin Magazine, News.Bitcoin.com (1 and 2), Blockchain News and CCN.