Hedera invests strategically in Ivorypay, a company specializing in stablecoin payments.
Ivorypay Secures Strategic Investment from Hedera
Ivorypay, a leading stablecoin payments company, has announced a strategic investment from Hedera, a decentralized ledger network. The exact amount of the investment remains undisclosed, according to a press release from Ivorypay.
The investment marks a significant milestone for Ivorypay, which has already processed $80 million in transaction volume and onboarded 8,000 merchants across various countries. The company, which specializes in running APIs for crypto payments, allows businesses to receive crypto payments and get paid in fiat.
As part of the investment, a Hedera representative will be admitted into Ivorypay's board of advisors. The partnership will see Ivorypay integrate Hedera's distributed ledger technology into its platform.
Ivorypay was part of CV Labs' blockchain accelerator in 2023 and received $135,000 in capital investment from CV VC. The company's expansion plans include venturing into African markets such as Ghana, Kenya, and South Africa, although the timeline for this expansion remains unspecified.
However, details about the specific terms of the investment were not provided in the article. Ivorypay did not respond to requests for comments regarding the investment details. The investment is typical of ecosystems that invest in startups, with the expectation that the startup will incorporate its product into the investor's infrastructure.
The investment is likely to be monetary, as suggested in Ivorypay's press release. However, for the precise figure, it might be necessary to consult official press releases from Hedera, Ivorypay, or credible financial news sources that cover blockchain and fintech investments directly.
- Hedera's investment in Ivorypay signifies a strategic move towards integrating blockchain technology into the business sector, specifically startups dealing with crypto payments.
- With Ivorypay's focus on African markets like Ghana, Kenya, and South Africa, the integration of Hedera's distributed ledger technology could potentially revolutionize digital payments on the continent.
- The addition of a Hedera representative to Ivorypay's board of advisors underscores the importance of partnerships in the growth and development of innovative technology-driven companies like Ivorypay.
- The investment from Hedera not only signifies financial support but also a commitment to backingstartups that are working towards bringing crypto payments to mainstream business, particularly in emerging markets.
- As Ivorypay continues to expand its horizons, it stands to benefit significantly from collaborations with established players in the technology and finance industry, such as Hedera.
