Crypto payment startup ShowPay raises $1.5 million to build a global ID based on blockchain
Nickie Louise
Posted On November 16, 2020
ShowPay, a global cryptocurrency payment system powered by BitcoinSV, today announced it has raised a $1.5 million angel round of funding to build MetaID, a global ID based on blockchain. The round is led by Jinghe Investment, a subsidiary of China Lantian Corporation, with another VC participating.
ShowPay will use the new funding to strengthen the basic research and development of its global distributed ID “MetaID” based on BSV and also establish a non-profit fund to promote the adoption of MetaID. The rest of the funds will be used for team expansion.
Founded in 2019, the Guangzhou, China-based ShowPay is a global cryptocurrency payment system powered by BitcoinSV. The company offers a box-fresh POS/Wallet FREE for all merchants. We offer assistance and guidance in the adoption of cryptocurrency payment processing. ShowPay is designed to support many cryptocurrencies including Bitcoin SV, BTC, Libra, DCEP plus more.
ShowPay is a blockchain company established in 2019 with the main development team in Guangzhou China. It is a blockchain company focusing on the underlying technology of BSV.
According to the investors, the chairman of Jinghe Investment Mr.Gong said, “I think the global ID based on blockchain is the most important link in the future blockchain world, and it must be the next wave of the blockchain industry because, without the global ID based on blockchain, it is impossible to usher in the large-scale popularization of blockchain applications. I am very optimistic about the MetaID being built by the ShowPay team. I believe that MetaID will become the largest global ID scheme on the blockchain in the next five years, and will become the most important infrastructure of the next-generation Internet. We will continue to invest in important infrastructure blockchain projects.”
Jinghe Investment is a company with a background related to China’s state-owned assets. Previous investment cases of Jinghe were mostly industrial projects, and it is the first time they’ve invested in blockchain field projects.
It is one of the largest investments to date in Chinese BSV enterprises, highlighting that more and more people in China can see the value of BSV. The ShowPay team hopes that in the future MetaID can detonate the explosion of blockchain ecology and make blockchain a technology that really benefits society.
