Eligma Raises $4.3 Million from Bitcoin.com, Pangea

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term firm Eligma on Monday announced that it has secured €4 million (almost $4.3 million) from Roger Ver’s Bitcoin.com and venture capital Pangea Blockchain Fund.

Launched in 2018, the Slovanian company aims to provide payments infrastructure to merchants to accept payments in digital currencies via point-of-sale (PoS). The company has already developed a solution called Elipay, which allows merchants to accept payments in both fiat and crypto.

Though the company initially targeted its home market in Slovenia, it also expanded its reach to partner with several businesses in neighboring Croatia. Now with the fresh capital, Eligm is aiming to tap the international markets.

Commenting on the funding, Dejan Roljic, CEO of Eligma, said: “Eligma effectively solved this problem with Elipay, which enables instant crypto transactions; furthermore, the merchant receives settlement in local fiat and is thus safe from crypto volatility. This makes the use of cryptocurrencies quick and effective for daily use. We must not forget that cryptocurrencies were envisioned as the electronic cash of the future.”

Easing crypto payments for the retail industry

Per the company, it has already established itself in more than 430 locations in Slovenia and Croatia, including hotels, shops, restaurants, and sports facilities.

Earlier, the company also partnered with Bitcoin.com to offer its services to the 4 million users of its wallet platform. The company is planning to partner with other wallet providers to bring in more users. The platform is also offering two percent of spent tokens to be returned to user's wallets in the form of ELI tokens.

“Bitcoin.com is investing in Eligma … as we drive more and more adoption and make it easier and easier for more people in more and more countries around the world … to use cryptocurrencies in general,” Roger Ver said.

Bitcoin.com also jumped in the crypto trading industry and launched its crypto exchange earlier today with a unique “negative” trading fees to attract traders’ attention.