SatoshiPay Integrates Blockchain Payments for Major European Publisher

Micropayments startup SatoshiPay has partnered with Europe's largest digital publisher to integrate blockchain payments for content.

AccessTimeIconFeb 1, 2019 at 1:00 p.m. UTC
Updated Sep 13, 2021 at 8:51 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Micropayments startup SatoshiPay has partnered with Europe's largest digital publishing house, Axel Springer SE, to process blockchain payments for its content globally.

The U.K.-based startup announced Thursday that consumers of the Berlin-headquartered firm's content can pay using SatoshiPay's wallet, which is built based on Stellar blockchain technology. Axel Springer owns titles including Business Insider, Die Welt and Rolling Stone (German edition).

SatoshiPay said that, as of Jan. 31, its wallet will be integrated into Axel Springer's online products and will work without any intermediaries, so payments will be directly credited to the publisher’s account from its content consumers.

Axel Springer’s senior vice president for new business, Dr Valentin Schöndienst, said:

“Blockchain payments can significantly reduce transaction costs and thus enable new monetisation systems for content."

SatoshiPay said it processes payments using the Stellar blockchain in various forms of value, including euro and dollar transfers, “in a matter of seconds.”

Founded in 2014, SatoshiPay had been based on bitcoin technology until July 2017. Then, in November of the same year, the startup collaborated with Stellar Development Foundation to offer micropayments that were “much faster and less costly.” In December 2017, it fully integrated with the Stellar network.

In July of last year, SatoshiPay said it planned to list on AIM, a sub-market of the London Stock Exchange, when London-based crypto investor Daniel Masters invested €566,000 (or $647,829) in its pre-IPO funding.

Axel Springer SE generated total revenues of over €3.5 billion (around $4 billion) in 2017, according to the announcement. Digital media activities contribute more than 60 percent of its revenues.

Featured image courtesy of SatoshiPay (from left: Meinhard Benn, founder and CEO; Alexander Wilke, COO)

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.