Newnote Financial Corp. (CSE: NEU; OTCQB: NWWTF; FSE: 1W4), a developer of crypto-currency and Bitcoin related software products and services, has purchased an equity position in the Vancouver, BC, Canada-based crypto-currency payment processor Coinpayments Inc.
Newnote has paid CAD$100k plus 1.5m shares priced at $0.15 cents and 600k warrants priced up to $1 to receive 20% equity in Coinpayments.
Led by Chairman and CEO Alex Alexandrov, who will be joining Newnote as a technical advisor, Coinpayments is a payment processor which accepts over 50 different types of crypto-currency. With over 7500 merchants in 120 different countries, it processes nearly $1,000,000 per month worth of Bitcoin, Litecoin, Dogecoin, Peercoin, Omnicoin, Darkcoin, Maxcoin and dozens of others.
It offers Point-of-Sale checkout in 24 languages with support for 21 shopping cart plugins enabling merchants to integrate crypto payments. Supported shopping carts include OpenCart, osCommerce, Magneto, Zen Cart, WordPress and WooCommerce, among others. Additionally, the company provides a currency launch platform that gives new currency developers support in the form of merchant acceptance, blockchain explorer, free coin faucets, and listing in its store directory.
Coinpayments generates revenue from transaction fees, advertising, and other merchant services.