Newnote acquired PayIvy for $260,000 CAD

Investing | May 15, 2015 By:

Newnote picked up recently embattled digital marketplace PayIvy.

The acquisition of PayIvy cost Newnote a mere $260,000 CAD in cash and stock, and it has the benefit of the current development team staying on to propel the firm into the future.

“This is a very strategic acquisition for Newnote, each of our services will be integrated into one another utilizing our APIs. Merchants can now setup shop with, accept payments through, convert Bitcoin-to-Cash on and transfer the funds into their bank account or remit overseas instantly,” said Newnote head Paul Dickson.

PayIvy’s founders, Lode Kennes, Ton Manh Nguyen, and David Snyder, the latter two of whom are Canadian, will now be able to focus on the development and expansion of the project, rather than worrying about being able to keep it alive financially.

Newnote is a crypto-currency and Bitcoin related software products and services provider.