Bitcoin payment provider Coinify lands new deal to offer services in Asia-Pacific region

Bitcoin merchant services provider Coinify ApS has announced a new deal with Hong Kong-based payment service provider iPayDNA International Ltd. to bring advanced Blockchain payment options to merchants in the Asia-Pacific region.

Under the deal, iPayDNA’s merchants will now be able to accept 17 Blockchain-based cryptocurrencies (including naturally Bitcoin) from any country in the region through a secure connection with payments being made in local currency to a merchant’s bank account within a few days after the transaction has taken place.

The deal by Coinify further extends their push into the Asian market, on top of a previously announced partnership with Bitcoin Vietnam Co. Ltd announced in January this year.

iPayDNA is a privately owned corporation founded in 2004 that offers PCI Security Council compliant financial services through numerous banks while also providing support for payment services through the  Visa, Master, JCB China Union Pay networks; it’s shareholders consist primarily of ex-bankers from Citibank, HSBC and VISA International, and the company has offices and representative offices in Hong Kong, Malaysia, Philippines, Mauritius, UK and Gibraltar.

“We are thrilled about teaming up with iPayDNA,” Coinify Sales Manager Morten Bebe said in a statement sent to SiliconANGLE. “Being a company native to the Asia Pacific region, they have the best understanding of local merchants needs and at the same time being a company with an international mindset, they perfectly match the qualities we look for in our business partners.”

Growing market

The Asia-Pacific region accounts for more than 60 percent of the world’s population, with many countries emerging from third-world status to developing nation status, with some already regarded as being developed.

While only a few parts of the region have been underserved by banking, electronic payment processing, particularly at the point of sale, has been lacking, opening up an opportunity for alternative payment solutions to gain a foothold in the market.

We’ve been following Coinfy’s progress for some time, including their PSP play in acquiring Coinzone last year and more, and they continue to impress with the deals they sign and their expansion ambitions into a region with the potential to see explosive growth, and this is yet another one.

Image credit: prachatai/Flickr/CC by 2.0
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Duncan Riley

Duncan Riley

Duncan Riley is a senior writer at SiliconANGLE covering Startups, Bitcoin, and the Internet of Things.

Duncan is a co-founder of VC funded media company B5Media and founder of news site The Inquisitr, and was a senior writer at TechCrunch in its earlier days.

Tips? Press releases? Intersting startup? email: or contact Duncan on Twitter @duncanriley

Duncan Riley


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