Polish Company inPay Sells Shares for Bitcoin

Journalist:
October 21, 2014

Shares of the Polish company inPay S.A. are available for purchase in public offering using the digital currency Bitcoin. The sale has launched on the Polish equity crowdfunding site Beesfund.com.

With the public offer of the company’s shares, the inPay team want to acquire financing for the quick development of the InPay system in Poland and Europe. InPay S.A. is selling 5,000 company shares, i.e. 5% of the total share capital, priced at 40 PLN each (about US $13).

Arkadiusz Regiec, president of Beesfund S.A., said:

“For crowdfunding platforms like Beesfund, Bitcoin seems to be the ideal engine for growth. It doesn’t limit buyers to specific acceptance areas like VISA or PayPal, it makes the whole purchase procedure much quicker and it lowers transaction costs. We wish Polish companies the best of luck, as they are showing that they can compete on the global market of solutions for new technology.”

InPay was created in Warsaw in 2013 – the first Polish and one of the first European Bitcoin payment and acceptance system dedicated for traditional and online vendors.

InPay removes the obstacles facing the owners of brick-and-mortar and online stores who want to start accepting Bitcoin. An owner of a business who wants to focus on running his company, and not on speculating with highly volatile assets, has the guarantee that his bank account will be credited with the amount equivalent to the invoices and receipts he has issued. Exchange rate freeze from the time of sale is a basic function expected by the market, because accepting payment in Bitcoin causes potential threats connected to price fluctuations. With inPay, the merchant receives a bank transfer of the same amount as if he had received cash.

Lech Wilczyński, president of InPay S.A., said:

“Most people perceive Bitcoin only through the lens of its dynamically changing price, while what we see here is a specific need, not a problem. We are using the Bitcoin protocol to provide quick and free flow of payment funds for company owners from buyer to seller, regardless of their location.”

Poland is in the top ten countries with the highest number of Bitcoin wallet downloads and among the 10 countries where interest in Bitcoin is highest, as shown by Google Trends statistics. Warsaw has 27 merchants that accept Bitcoin payments, that’s more than Frankfurt (18), Munich (21) and Budapest (13) and not much less than in Prague (35), Berlin (56) or London (65).

Also read: Paralelni Polis: the World’s First Bitcoin-Only Coffee Bar

Krzysztof Piech, PhD, Warsaw School of Economics, said:

“Indeed Poland has the opportunity to become a regional European leader in terms of solutions based on the Bitcoin protocol. We should be able to take advantage of this competitive edge.”

What do you think? Comment below!

Images from inPay and Shutterstock.

Tags: Poland
Giulio Prisco @giulioprisco

Science writer, software developer, Bitcoin/crypto enthusiast.