Bitcoin (BTC) investment house New York Digital Investment Group, or NYDIG, has announced the acquisition of United Kingdom-based micropayment service Bottlepay for an estimated fee between $280 million and $300 million.

NYDIG previously participated in the company's $15.4-1000000 seed funding circular in February, a enhance that was led by British billionaire investor Alan Howard and saw the company valued in excess of $fifty million.

Utilizing the Bitcoin Lightning Network, Bottlepay's mobile application service enables users across the U.K. and Europe to transfer small amounts, known as micropayments, of Bitcoin and traditional fiat currencies such as the pound sterling and euro.

In March, post-obit previous integrations of Discord and Reddit, the digital awarding announced the integration of Bitcoin payments into social network platform Twitter, enabling account holders to send the asset with the unproblematic tweet format "@bottlepay send one,000 sats to @twitteruser."

Bottlepay founder Pete Cheyne shared his optimism on the future of the payments service following the acquisition by NYDIG:

"When we set out to build Bottlepay, we wanted to unlock the financial infrastructure of the future. We're excited to be joining an industry leader similar NYDIG who shares our vision for the futurity of money."

Related: NYDIG raises $100 million and launches 'Bitcoin-powered' insurance initiative

Bottlepay ceased operations in tardily 2022 following the introduction of new Anti-Money Laundering regulations in the European Union, with its U.One thousand.-based programmer, Block Matrix, stating that the stringent legislation jeopardized the identity and privacy of the community and therefore declined to continue pursuing the project.

Following this saga, Bottlepay overhauled the core infrastructure of its Bitcoin wallet to comply with the European Union's fifth Anti-Money Laundering Directive, an initiative aimed to enhance the transparency of digital transactions across Europe.

Ross Stevens, founder and executive chairman of NYDIG, and Robert Gutmann, co-founder and CEO of NYDIG, shared a joint argument on the regulatory credibility they witnessed inside the Bottlepay service:

"The Bottlepay squad has built world-grade infrastructure for Lightning and bitcoin payments, and they have done and so with the same level of regulatory and compliance rigor that our customers await from NYDIG today. NYDIG is on a mission to bring bitcoin to all, and this conquering brings us one pace closer to fulfilling that goal."