Blue Star Capital PLC investee SatoshiPay inks money transfer deal with German bank
SatoshiPay has signed the agreement with Bankhaus von der Heydt to integrate the bank’s fully-compliant euro-backed stablecoin into its cross-border money transfer service.
Blue Star Capital PLC (LON:BLU) said its investee firm SatoshiPay, in which it owns a 27.7% stake, has signed an agreement with Bankhaus von der Heydt (BVDH), one of Europe’s oldest banks, to become the first user of the bank’s fully-compliant euro-backed stablecoin (EURB).
Stablecoins are cryptocurrencies that are often pegged to a different asset or basket of assets to stabilise their value and reduce price volatility.
The company said BDVH, in partnership with Bitcoin peer-to-peer lending platform Bitbond, has introduced EURB on the Stellar digital currency transfer network. Bitbond is responsible for the development and integration of EURB while BDVH provides its banking infrastructure and regulatory framework.
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