Monetha GmbH, an Ethereum token payment solution for e-commerce and brick and mortar stores just a few days before the start of its token sale has announced a strategic partnership deal with the largest online retailer in the Baltic States, Pigu.lt. This deal will enable online shoppers to purchase goods using Ethereum based tokens via Monetha’s integrative check out experience.
Through the strategic partnership, Pigu.lt agreed for the Monetha integration to be rolled out across their portfolio of websites, following the final development of Monetha’s Milestone 01 – due for completion in early 2018.
The roll-out includes the Latvian (220.lv), Lithuanian (Pigu.lt), and Estonian (kaup24.ee) markets, where online shoppers have access to over 400,000 products, including best-selling perfumes, clothes, and electronics.
Co-founder of Monetha, Justas Pikelis commented:
“To partner with a company of such size, influence, and reach, has been a long term dream of ours and we’re more than excited to help Pigu.lt unlock and enable payments from the Ethereum community.”
Once the implementation is performed and up and running, it will position Pigu.lt as one of the largest e-commerce stores in the world to directly accept Ether, and also as one of the more forward thinking e-commerce players in the space.
Pigu Group boasts an impressive growth history and today processes around 2 million orders per year. For the last 10 years, Pigu group has continued to strengthen their position as leaders in the market by being both innovative and open to new challenges – making them a well-suited partner for Monetha.
This year, the consolidated turnover forecast for Pigu Group is over 100 million US dollars.
CEO of Pigu.lt, Dainius Liulys commented:
“In order to ensure our leading position in the market, Pigu Group has been aware of Ethereum based currencies before. After seeing what Monetha offers to merchants, we discussed our options by meeting the co-founders and we are happy to have them as our payment processing partner for crypto currencies, once the product is developed to handle our transaction volumes.”
Today, merchants cannot or have a hard time easily accepting payments in Ether. Moreover, a new digital asset class is being created: tokens of technology, services or products that are built on the Ethereum platform. Monetha is creating a universal decentralized trust and reputation solution leveraging smart contract technology working together with payments processing for merchants on the Ethereum blockchain.
More information can be found in the Monetha white paper.
Paolo Rebuffo joins Monetha as a financial advisor
Over the weekend, it was also announced from Monetha that Paolo Rebuffo has joined on as a financial advisor. Paolo is an Italian entrepreneur who lives and works in Switzerland. He has over 15 years of experience as a financial advisor. Within the blockchain ecosystem, Paolo acts as a business angel providing finance, legal infrastructure, and various advisory services.
He previously worked with Gnosis, Edgeless, and he is the senior advisor and strategist to Digital Identity SA, where he is responsible for searching and analyzing blockchain related projects in order to seek new value for investors. Mr. Rebuffalo also founded a popular and influential blog in the Italian language in which he writes about finance, geopolitics, and cryptocurrency.