ZURICH, Switzerland – August 18, 2020 – Centi, the Switzerland-based Bitcoin SV payments processor, today announces that it has closed its first funding round headlined by Dr. Jürg Conzett, founder of Zurich’s MoneyMuseum & technology entrepreneur Calvin Ayre, founder of the Ayre Group and CoinGeek.

Founded by long-time Bitcoin advocate Bernhard Müller, Centi is a system that enables merchants to accept digital currency payments through existing Point of Sale (POS) infrastructure. By integrating with existing POS systems and acquirers and avoiding the need for additional hardware, Centi offer a streamlined solution for businesses to begin accepting Bitcoin SV payments, which attract much lower fees for merchants compared with traditional payment networks.

With Centi, from a merchant’s perspective, nothing changes. Because the product integrates into existing POS systems, no additional hardware is required, nor is additional staff training necessary. Payments are made by customers in BSV, but received by merchants in their local fiat currency, eliminating issues associated with accepting and accounting for digital currencies.

The first merchants utilising the Centi system for payments will be online and available for use later this year, with an initial rollout planned with retail partners across Switzerland.