Bitcoin payments venture Moon raises $2.1m and eyes new markets
Moon, a US-based startup that enables crypto payments for e-commerce sites, has raised $2.1 million.
The funding round included participation from Fenbushi Capital, New Form Capital, SBX Capital, Manresa Ventures, Fulgur Ventures, Flight.VC, Bentaus, Block0, Litecoin creator Charlie Lee and Bill Murphy, the former CTO at Blackstone.
Moon CEO and Founder Ken Kruger told CoinDesk the company is using the cash to expand into a web and mobile application, making it possible to fund Moon cards with accounts from other exchanges (currently it only uses Coinbase).
It is also looking to expand its geographic reach, enable users to pay with stablecoins in addition to Bitcoin and bring in new employees
Plans are also afoot to make its product available for merchants outside of the US.
“The power of crypto is revolutionary”
In an inteerview with RTIH during 2019, Kruger spoke of his belief that crypto will be adopted by retailers
“There are obvious benefits to both parties: merchants who accept crypto pay lower fees and have no risks of chargebacks, while consumers benefit from more control over their funds,” he said.
“Bringing this future to fruition is a complex problem, and the team at Moon is aiming to make the widespread adoption of crypto a reality.”
He added: “Many of the critics are not familiar with either the technology or the real problems crypto solves.”
“The world is plagued with issues of privacy, censorship, lack of access to financial services, and many more that can be (and are being) solved by crypto.”
“Perhaps not all of these problems will be solved by crypto in its current form, but technology evolves. The power of crypto is revolutionary. Just give it time.”
