ShowPay Raises $1.5M To Focus On BSV Decentralized ID Systems
Image Source: ShowPay Twitter ( @showpayio )

ShowPay, a blockchain company focusing on BSV, recently announced a $1.5 million angel round. The investment was led by Jinghe Investment, which is a subsidiary of China Lantian Corporation. The funds will be used to fuel developments in MetaID, a decentralized ID system. 

ShowPay Angel Round

ShowPay, a global cryptocurrency payment system, has recently announced a $1.5 million investment from Jinghe Investments and another unnamed VC. The angel round was facilitated to support developments in MetaID, which is a decentralized ID system based on Bitcoin SV. The team at ShowPay is working on MetaID and will be using investment capital to enhance research & development, promote MetaID through a non-profit fund, and ramp up hiring.

ShowPay continues to be a fast-growing blockchain enterprise that evolved from the Bitcoin SV ecosystem. As the BSV network strives for mass adoption, MetaID is solving inefficiencies around organizing user data between various applications and wallets affiliated with BSV.

Mr. Gong, the Chairman of Jinghe Investment stated that: 

“I think the global ID based on blockchain is the most important link in the future blockchain world, and it must be the next wave of the blockchain industry because, without the global ID based on blockchain, it is impossible to usher in the large-scale popularization of blockchain applications. I am very optimistic about the MetaID being built by the ShowPay team. I believe that MetaID will become the largest global ID scheme on the blockchain in the next five years, and will become the most important infrastructure of the next-generation Internet. We will continue to invest in important infrastructure blockchain projects.”

Why The Investment Is Significant

According to ShowPay, the BSV network is gaining significant momentum in China. The recent angel round from Jinghe was one of the biggest investments in a China-based BSV enterprise. Jinghe Investments took a leap of faith in ShowPay, as it represents the first blockchain projects they have invested in. Previous portfolio companies of Jinghe Investments have been in the industrial domain.

Other ShowPay Projects

ShowPay has built global cryptocurrency payment systems that rely on Bitcoin SV. In a push to make digital assets more accessible to everyone, ShowPay has created ShowPOS and ShowMoney.

ShowPay raised funding of $1.5 million to build MetaID
Source: ShowPay Video Capture

ShowPOS are dedicated point of sale smart devices that offer merchants cutting edge digital asset payment solutions. ShowMoney acts as an SPV BSV wallet application that can be used to spend cryptocurrency just like cash. In a world where individuals across the globe hold various digital assets, ShowPay is offering solutions for merchants that can support customers that transact in cryptos such as Bitcoin SV, Bitcoin, Bitcoin Cash, Ethereum, and others.

According to the companies website, they are allowing businesses to try ShowPay for free. This is a great way for merchants to test the digital world and see whether or not cryptocurrencies can help them reach new horizons.

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