British-Polish fintech firm Billon Group has secured £2 million in funding to support with the next phase of the company’s funding.
Billon Group is focused on distributed ledger with an approach down to the protocol level to be regulatory complaint to both privacy and banking regulations.
The strategy appears to be working well, with the company winning a number of grants and investors throughout the troubling pandemic.
Billon claims that it can reduce the “underserved” micropayments industry, which is a $3 trillion Dollar market, by using blockchain technology.
Anand Phanse, CFO Billon Group, commented: “This new funding in 2020 will support the next phase of Billon’s development, and represents an endorsement that investors seek pure distributed ledger technology companies that are better suited for solving national currency and personal data challenges than certain early blockchain architectures. The pandemic will open new opportunities for innovative companies like Billon.”
The fact that blockchain-based companies like Billon, which focus on regulatory compliance and not the price of a volatile token, demonstrates how the industry has matured significantly from 2017 during the ICO bubble.
With global central banks, including the Bank of England, now seriously discussing the possibility of a Central Bank Digital Currency (CBDC) it seems as though the industry is finally getting recognition from traditional institutions.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.