Blockchain Startup Billon Nets €2 Million From EU Research Fund

A U.K. blockchain startup has received a notable grant to continue its work with the technology.

Jul 21, 2017 at 3:10 p.m. UTC
Updated Sep 13, 2021 at 6:45 a.m. UTC

UK blockchain payment startup Billon Group has received €2 million in new funding from Horizon 2020, a notable European Union research program.

According to a statement from the startup, the grant seeks to formally recognize its capacity in developing corporate payment solutions based on distributed ledger technologies (DLT). The startup said the funds would be used to its suite of develop e-commerce and content monetization solutions.

Further, while Horizon 2020 provides €80 billion in funds from 2014 to 2020 for a wide range of innovation companies, this is perhaps the first funding offer from the program to a blockchain-related startup. Specifically Billon Group's grant came from a subsidiary SME Instrument program, which has offered €3 billion during the same period for high-potential SMEs.

Tadeusz Kuropatwinski, Billion's managing director of digital payments business, added:

"We believe content monetization and eCommerce payments will be one of the main drivers behind the global demand for micropayments, especially in emerging markets. Billon expects to launch merchant services for eCommerce and content monetization this autumn in Poland and in 2018 in the UK."

The funding also continues Billion's history of working with government programs.

As reported in November last year, Billon was selected to the first phase of a Sandbox program launched by the U.K.'s regulation watchdog Financial Conduct Authority, designed specifically for testing DLT products in a supervised environment.

Stack of coins via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
After the Terra Meltdown: What's Next for Stablecoins?

The largest token collapse in crypto history. So let Luna die.

The largest token collapse in crypto history. So let Luna die.

CoinDesk - Unknown
2
CoinDesk - Unknown
5 Key Takeaways From a16z's State of Crypto Report

The venture firm is extremely bullish on Web 3.

The venture firm is extremely bullish on Web 3.

CoinDesk - Unknown
3
CoinDesk - Unknown
Regulators Are Paying Attention to UST

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

CoinDesk - Unknown
4
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown