Kryptonite 1 plc Investment in SatoshiPay

 
TIDMKR1 
 
19 January 2017 
 
                               Kryptonite 1 Plc 
                       ("Kryptonite 1" or the "Company") 
 
                           Investment in SatoshiPay 
 
Kryptonite 1 Plc is pleased to announce that it has subscribed EUR59,276.82 for 
ordinary shares in SatoshiPay Ltd ("SatoshiPay"), a UK incorporated private 
nanopayment software and blockchain company, as part of a EUR1 million fundraise 
by SatoshiPay. Following this investment, Kryptonite 1 is interested in 
approximately 1 per cent of SatoshiPay's issued share capital. 
 
SatoshiPay is developing a two-way payment platform, which enables online 
content providers to monetise their digital content through the acceptance of 
nanopayments. Using the SatoshiPay platform, online media companies are able to 
process nanopayments of EUR0.05 (5c) or less with minimal transaction fees. 
SatoshiPay technology can also process payments greater than 5c, but the 
company believes the real technical innovation is in relation to nanopayments, 
in some cases being less than 1c.  SatoshiPay is based on blockchain technology 
and currently bitcoins (a cryptocurrency) are the only means of payment. 
 
SatoshiPay believe its technology will provide a direct alternative to paywalls 
and subscriptions, currently adopted by some media companies, and should 
instead enable users to pay for consumption on a per article, per song or per 
download basis; or for content to be consumed and paid for on an incremental 
basis (payment per paragraph or minute of audio or video content).  SatoshiPay 
works without software download or sign-up for the user (save for creation/top 
up of an online wallet). Payments are instant and the user's wallet balance is 
available on each website that integrates the SatoshiPay software. 
 
In February 2016, SatoshiPay released a beta version of its product, which 
integrates with WordPress, the world's most popular web publishing platform. 
SatoshiPay introduced its first Application Programming Interface (API) in 
mid-2016, potentially extending the company's reach to all websites, internet 
applications (including mobile apps) and internet connected software. In July 
2016, SatoshiPay announced a collaboration with Visa Europe's innovation 
department relating to a proof of concept project to develop the capability to 
deliver a trusted top-up service to a digital wallet, using just a Visa card. 
SatoshiPay made an unaudited loss of approximately EUR210,000 in 2016. 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
                                    -ENDS- 
 
Contact Details: 
 
Kryptonite 1 Plc 
Stephen Corran 
[phone] 
[e-mail] 
 
NEX Exchange Corporate Adviser 
Peterhouse Corporate Finance Limited 
Fungai Ndoro and Mark Anwyl 
[phone] 
 
This announcement contains inside information as defined in Article 7 of the 
Market Abuse Regulation No. 596/2014 ("MAR") and is disclosed in accordance 
with the Company's obligations under Article 17 of MAR. 
 
 
 
END 
 

(END) Dow Jones Newswires

January 19, 2017 02:00 ET (07:00 GMT)