SatoshiPay introduced cross-border cryptocurrency payments for the B2B sector

The German-British company SatoshiPay has announced the launch of a new service, the purpose of which is to solve the problems of the B2B market, often limited in access to existing payment systems and having difficulties with growth in some jurisdictions.

The new service is called SatoshiPay B2B and offers instant global payments using the Stellar cryptocurrency.

Payments can be sent to SatoshiPay B2B in the recipient country. Such a unit (“anchor” in Stellar terminology) acts as a link between the local payment infrastructure and the Stellar network and then transfers the funds to the recipient using the local banking network, cash points or other payment infrastructure.

The SatoshiPay report said that the main users of the new service will be international marketplaces, representatives of the gaming industry and participants in the free-earning economy. Many of them, due to insufficiently developed payment infrastructure, use vouchers for e-commerce or loans for mobile phones for settlements. An alternative should be a cryptocurrency solution from SatoshiPay.

At the initial stage, the service will be focused on the United States, Latin America and Africa, with access to other markets in the future.

At the moment, SatoshiPay is in the pilot testing phase, which you can participate in by invite.