The Bitcoin Chaipay app is back from the dead with a new Lightning app

The social payment application Bottlepay (née Chai Pay) aims to relaunch in the next few weeks, after closing due to regulations in December 2019.

After restructuring the bitcoin wallet product to comply with the European anti-money laundering directive (AMLD5), the British startup is providing an exchange wallet with social features on Reddit, Twitter and Discord. Chaipay co-founder Pete Cheyne said more than 1,000 people on the waiting list for the beta were closed in August.

Because we switched to an app-derived product, we could do a lot more. You can also use scheduled payments to buy more bitcoins.

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The Square Cash Cash app and others have provided this feature in the United States, but in Europe, where the focus is on Chaipay, there is even an added feature to transfer bitcoin to another wallet address if want. This means that users can choose custody or non-custodial services.

In addition, Lightning Lightning works in the background without the user having to manage the channels. There will be a small fee to exchange between fiat and bitcoin, and vice versa. There will also be floors because people are interested in our application for different use cases.

Chaipay CEO Mark Webster says his 11-person team has been constantly funding their angel investors, who previously traded $ 2 million worth of equity in 2019. Webster has added the company to win support tokens in the near future, though maybe someday. This year it is all about bitcoin.

I think Lightning is at the core of the strategy, according to Mr. Web Webster, referring to the bitcoin scaling solution. As consumer demand increases, we can open more channels.

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As part of this change, Webster said he is hiring, without austerity due to the economic downturn, hoping to increase the team to about 35 by 2021. Cheyne said a number of recruiters for Up to now, for the marketing and legal teams, has done a vast restructuring of products. Further hassle on your customer savvy requirements also creates opportunities for wallet features.

You can store a fiat balance, says lemon Cheyne. Scan the Lightning code and pay that amount from your pound or euro balance.

Currently, Bottlepay will only open beta programs for users in Europe. But Webster said the company hopes to open beta for Americans and reactivate Telegram options by 2021. At the time, this could be one of the few fiat-friendly wallets that use Lightning without causing trouble for users. In a way, this is comparable to the U.S. consumer Lightning strike app.

This time going far has been valuable for the company to refine our strategy, says lemon Webster. You are still extremely focused on Lightning.