A tech company has acquired a startup that offers a way to make payments online using bitcoin, an asset that can be used to pay for goods and services.
The $1.4 billion deal between Coinapult, a San Francisco-based payments company and an unnamed buyer, includes the company’s digital wallet service and the company, as well as several other payment services, including bitcoin.
Coinapult’s wallet service allows consumers to use an app to send and receive payments for goods or services.
The service also allows users to purchase goods and other items through the Coinapult platform.
It was created in 2015 and has been available to users in the U.S. and Europe.
The deal includes a variety of services that were previously available only through the company.
Coinapult said it will use its existing business, and expand it to include digital wallets, payment services and other services.
“We are thrilled to partner with Coinapult to offer consumers a new and better way to send, receive and store their payments, with the option to use their existing bitcoin wallet or create their own,” Coinapult CEO Andrew Barragan said in a statement.
“The Coinapult wallet will also continue to be used by consumers for their mobile payments.”
The transaction, which is subject to regulatory approvals, could help bolster the fledgling bitcoin-payment ecosystem, which has grown rapidly over the past year.
Bitcoin is an alternative digital currency that uses cryptography to create digital value and is used to send payments around the world.
The currency has seen a surge in popularity, with its value soaring over the course of the year.