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.

AccessTimeIconJul 21, 2017 at 3:10 p.m. UTC
Updated Sep 13, 2021 at 6:45 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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


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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.