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 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.