Blockchain payments startup Billon receives €2m EU grant

Billon Group, a Poland-based blockchain payments startup, has received €2m ($2.3m) funding from Horizon 2020

Blockchain payments startup Billon receives €2m EU grant

The company was awarded the grant on the basis that its technology can exploit the alternative payments market.

The start-up intends to use the money to expand its blockchain technology beyond instant corporate payments, support the launch of e-commerce and content monetisation solutions, and provide additional investment in sales, marketing, compliance and operation.

Billon co-founder Robert Kaluza said: “Billon’s blockchain technology is the first cloud and mobile peer-to-peer solution for everyday currencies using DLT, where we provide PLN and GBP solutions in partnership with banks. Billon now moves beyond solutions to digitally pay people, to now enable participants to spend their funds online.”

Billon managing director of digital payments Tadeusz Kuropatwinski said:  “Today’s payment solutions include clumsy pre-paid vouchers and premium SMS, and Billon can transform this into a digital payment experience on a mobile phone, and with a full audit trail.

“Based on successful trials, Billon expects to launch merchant services for ecommerce and content monetization this autumn in Poland and in 2018 in the UK, and will then look to emerging markets,” Kuropatwinski revealed.