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German digital publishing house adopted a blockchain-based system of payment for its content

Germany’s largest digital publishing house Axel Springer SE has implemented the option of blockchain-based payments for its content through partnering with micropayments startup SatoshiPay.

Micropayments startup SatoshiPay has partnered with Europe’s largest digital publishing house, Axel Springer SE, to process blockchain payments for its content globally.

The U.K.-based startup announced Thursday that consumers of the Berlin-headquartered firm’s content can pay using SatoshiPay’s wallet, which is built based on Stellar blockchain technology. Axel Springer owns titles including Business Insider, Die Welt and Rolling Stone (German edition).

Built on Stellar blockchain, SatoshiPay platform will be integrated into Alex Springer’s online products, so that users could be able to pay for content in crypto.

Being one of the leading e-publishing houses in Europe, Axel Springer SE owns titles including Business Insider, Die Welt and Rolling Stone (German edition) and others. From now on, SatoshiPay blockchain wallets may be used to pay for content provided by the abovementioned media sources. The payments will be credited directly to the publisher’s account.

As noted by Alex Springer’s senior vice president Dr. Valentin Schöndienst, Stellar blockchain allows for fast payments in various currencies, including EUR and USD.

SatoshiPay was founded in 2014. December 2017 saw the service fully integrating with the Stellar blockchain network.

Publishing giant Alex Springer boasted around $4 billion-large revenues in 2017. Notably, 60% of the company’s profits came from digital media sector.