COINQVEST, a suite of crypto payment APIs and web-based invoicing and payment management tools, today announced its selection as the top business in the Stellar Seed Fund, where it was awarded first place by a panel of Stellar Development Foundation members and peers in the Stellar ecosystem.
The final round consisted of eight participants, each being awarded an equity-free grant amount proportionate to the number of votes received.
COINQVEST received 835,214 XLM (more than $500Okay USD at the time of winning). In all, 58 businesses and blockchain projects entered the nine-month-long competition starting back in August 2020.
Stellar Seed Fund
The Seed Fund seeks to support early-stage Stellar development of long-term utilities for the ecosystem and viable, for-profit, businesses building products and services. The goal of the Seed Fund is to help businesses and utilities get started on Stellar.
Aside from the monetary grant for a fledgling startup such as COINQVEST; the Seed Fund offers innumerable benefits to participants. Importantly, for COINQVEST, winning the smaller Stellar Community Fund almost a year ago allowed them to obtain an EU crypto payment processing license.
COINQVEST Co-Founder, Stefan Schneider, said, “The increased attention we’ve gained also means being able to showcase our strengths and real-world functionality as a digital currency / stable coin payment provider. We truly appreciate having the opportunity to be a part of the Seed Fund. I can’t recommend participation enough to those building on Stellar and wanting to take their projects to the next level.”
Learn More: business analyst salary, business synonym, business administration jobs, business near me, business hours, business development manager salary, my business course, business in spanish, business headshots, business first, business unit, business brokers near me, dbusiness, 2 business days, is business administration a good major, business horizons, 7 business days, business knowledge, business use case.