A crypto payments startup based in Slovenia called Eligma was recently able to raise $4.4 million USD from Pangea Blockchain Fund. The venture capital company is owned by the famous crypto entrepreneur (and troll) Roger Ver.
According to CEO Dejan Roljic, Eligma was able to double its value in less than a year and a half. This attracted prominent investors such as Pangea Blockchain Fund. Now that the company received this investment, Roger Ver will enter its board of directors.
The company’s main goal is to create a blockchain payments network that will help people to get paid in a more effective way. The idea is to make payments seamless and easy. It was also affirmed that the platform should be able to provide the conversion of crypto to fiat money quickly and that it is set to be used by merchants all over the world.
In order to use a platform, people have to buy and use Eli tokens created by the company. They are built on top of the Ethereum blockchain, but the CEO has already affirmed that these payment tokens will migrate to the Bitcoin Cash (BCH) network soon. The migration will be made using the money from the investment. The tokens will then be integrated with a Bitcoin wallet.
Curiously, the company has received money from Ver’s company and will not invest in Bitcoin Satoshi Vision, his own version of Bitcoin, but in its competitor Bitcoin Cash instead.
Now, the next goal of the company is to offer its services in Turkey. The country is currently being ravaged by high inflation, so the idea is to offer services there to connect it with Europe.