"Gamers have long bought and sold digital items like swords, jewels, and spaceship parts. Cryptocurrencies, which are inherently digital, seem like an obvious tie-in. In a bid to make good on that combination and build blockchain payments rails for video games, the Bitcoin payments startup ZBD has raised $40 million in a Series C fundraise. Based in New Jersey, the company sells access to video game payments software that can process a variety of transactions, including Bitcoin ones."
"ZBD, though, has never been in the business of NFTs or crypto-based gameplay, and the startup is piggybacking off a crypto use case that has seen adoption: payments. Especially with the rise of stablecoins, or cryptocurrencies pegged to real-world assets like the U.S. dollar, blockchains as payments rails have become a talking point from big fintechs like Stripe and even big banks like JPMorgan Chase."
ZBD raised $40 million in a Series C to build blockchain payments rails for the video game industry. The New Jersey company sells access to payments software capable of processing Bitcoin and other crypto transactions. Blockstream Capital led the round with a $36 million investment. ZBD positions itself around payments rather than NFTs or crypto gameplay, citing growing skepticism about blockchain gaming use cases. Stablecoins and blockchain-based rails have attracted attention from fintech firms and banks as a payments solution. CEO Simon Cowell has a background in financial services and worked for NXMH, which acquired Bitstamp.
Read at Fortune
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