Coinqvest has won first ever Stellar seed fund and received 500,000 dollars as equity-free grant. Stellar seed fund was established to support early stage development of long term utilities for Stellar network and for businesses building products and services that revolve around Stellar network.
Coinqvest was chosen by Stellar community as winner. The company recently acquired their European Union crypto payment processing license. This was important step as without this very license, Coinqvest would not have been able to do what it does – provides a suit fo payment APIs and browser-based invoicing and payment management tools.
For those who do not remember, Coinqvest was also winner of fourth Stellar community fund, where it received around 92,000 dollars. By end of April 2021, ~120 merchants had registered on their site to start accepting cryptocurrency payments.
Interestingly, users still chose bitcoin for processing most of cryptocurrency transactions. XLM constituted around 3% while Etheruem was used for paying 12% payments.
Coinqvest says Stellar seed fund’s grant will allow it to help achieve next milestones. This includes creating seamless withdrawal and KYC process; adding new developers, sales managers and B2B marketing specialists.