Blue Star Capital PLC (LON:BLU) has noted that its investee company SatoshiPay has launched its new business-to-business payments platform DTransfer to facilitate instant cross-border payments for businesses.
Built on SatoshiPay's blockchain technology and the Stellar network, DTransfer looks to establish a new standard for global payments, focussing on speed, cost and transparency.
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It integrates currency exchange into each transaction for customers to track payments in real-time, while will allow approved banks and businesses to join a compliance network to share KYC/KYB data, the company said.
To date, DTransfer has connected its payment platform to banking networks in Europe, US, Mexico, Nigeria and Tanzania and has signed up its first client, a European business operating in the microfinance industry in sub-Saharan Africa.
DTransfer is in the process of connecting further local banking networks in Europe, Asia and the Americas, Blue Star noted.
The AIM-listed investing company owns 27.7% of the SatoshiPay's share capital.
“The launch of DTransfer is an important step in SatoshiPay's diversification into B2B payments,” said Tony Fabrizi, chief executive of Blue Star in a statement.
“DTransfer aims to provide customers with a quicker, more competitively priced and transparent process than the competing products provided by the banking industry.”