Fold App Raises $2.5 Million to Develop Lightning BTC Payments
The Fold mobile shopping app, which supports the Lightning Network, has raised $2.5 million and added the ability to pay with Bitcoin.
On September 25 Fold editor Will Reeves published on his blog that app users can now spend both fiat and Bitcoins in online stores and shops by synchronizing their credit card or Lightning wallet.
Also, Fold has opened new partnerships with investors, such as venture funds Craft Ventures, Goldcrest Capital, Slow Ventures, Fulgur Ventures, and digital asset management company Coinshares, which led to a contribution to the further development of the project in the amount of $2.5 million.
Cryptocurrency payments are gradually becoming mainstream when it comes to the retail sector. Published in February global review of Kaspersky Lab’s information security risks showed that a respectable 13% of more than 12,000 consumers in 22 countries used cryptocurrency to pay for their Internet purchases.
Support for payments in BTC will begin in more than 25,000 outlets for 30 French retailers, including sportswear giant Decathlon and Sephora cosmetics store by early 2020.
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