NYDIG acquires British bitcoin startup Bottlepay in $300 million stock purchase

Quick Take

  • NYDIG has acquired a British payments startup focused on Bitcoin’s Lightning Network.
  • The crypto custody and investment firm is paying for the deal in shares worth around $300 million.

NYDIG, the New York-based crypto company, has acquired British payments startup Bottlepay, according to people familiar with the matter.

NYDIG will pay for the company in shares, and the deal is worth between $280 to 300 million (equivalent to 3% of NYDIG’s shares). The acquisition closed earlier this week.

A spokesperson for NYDIG declined to comment when reached.

Founded in 2019 and based in Newcastle upon Tyne, England, Bottlepay facilitates instant payments in a range of currencies, including bitcoin. The platform uses the Lightning Network – a bitcoin-centric protocol that aims to facilitate faster payments.

British billionaire Alan Howard is Bottlepay’s largest shareholder. He led an £11 million investment in Bottlepay in February 2021, alongside NYDIG and FinTech Collective, the venture capital firm. That round valued the company at £51 million.

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Howard seeded Bottlepay together with Ch