In a press release, Canadian crypto conglomerate Newnote Financial says that it has acquired PayIvy.com, a platform for merchants selling digital products and digital downloads such as e-books, software, graphic designs, web designs and intellectual property. The total amount paid by Newnote is CDN $260,000 in cash and stock.
Discussing the key features of the acquisition the press release informs that PayIvy has shown great growth in its first six months, reaching an Alexa ranking of 73,000 and processing over $200,000 per month in sales while currently experiencing hyper-growth. However, it does not show the fact that the company has been struggling lately.
Nonetheless, Newnote Financial is the same company that acquired CoinTrader.net back in March and now PayIvy. From the aggressive hunting of the troubled companies makes Newnote Financial one of the most successful companies that are looking for expansion. The company is a rapidly growing financially-focused approach for expansion.
The latest acquisition of PayIvy is just one step towards its goal to expand further and further into the cryptocurrency space. Newnote says that 1,000 new vendors were signing up every week and allows vendors to easily sell digital goods accepting Bitcoin, Litecoin, and Omnicoin via CoinPayments.net, the premier processor for altcoin payments.
According to the market observers this is a very strategic acquisition for Newnote Financial as each of the services will be integrated into one another utilizing APIs. Nonetheless, PayIvy, a multi-vendor website enabling merchants to register and start selling digital products and services online within minutes.
The company has been helping merchants instantly accept credit cards through PayPal as well. The website allowed merchants sell and publish e-books with more options to protect their digital content from online piracy.
It is a Very Strategic Acquisition for Newnote Financial Says the CEO
Talking about the acquisition the CEO & President of Newnote, Paul Dickson, said that this is a very strategic acquisition for Newnote, each of the services will be integrated into one another utilizing the APIs. Additionally, merchants can now setup shop with PayIvy.com, Accept payments through Coinpayments.net, Convert Bitcoin-to-Cash on Cointrader.net.
He also informs that merchants can now even transfer the funds into their bank account or remit overseas instantly. Nonetheless, Newnote’s portfolio of Bitcoin centric assets now has a combined total of over 60,000 active users engaged in various crypto-currency activities while processing nearly $2,000,000 per month in Bitcoin transactions.
To contact the reporter of this story: Deepak Tiwari at email@example.com