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Corporation
MOBILE & TELECOMMUNICATIONS | Mobile Software & Services / Payments
interstellar.com

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Founded Year

2018

Stage

Acquired | Acquired

Total Raised

$9M

About Interstellar

Interstellar is the payments app formed by the merger of Chain and Lightyear.On March 15th, 2021, Interstellar was acquired by Velo Labs. The terms of the transaction were not disclosed.

Interstellar Headquarter Location

292 Ivy St

San Francisco, California, 94102,

United States

Latest Interstellar News

Interswitch partners Interstellar to develop blockchain infrastructure services across Africa

Oct 7, 2021

10 seconds ago Interswitch , one of Africa’s foremost unicorns and leading integrated payments companies has partnered with Interstellar, an enterprise Blockchain infrastructure services company to develop blockchain-powered infrastructure services and solutions across Africa. Why this is important Cryptocurrency adoption has grown on the continent has grown significantly. A recent report by Chainanalysis, a blockchain analysis company that provides research data to government agencies, exchanges and financial institutions revealed that between July 2020 and June 2021, Africa’s cryptocurrency market grew by 1,200 per cent. With a whopping $105.6 billion transactions, Kenya, Nigeria, South Africa and Tanzania represents the bulk of these transactions and Bitcoin is the most traded coin. This move is significant for both companies to position as a leading enabler of continent-wide transactions. A bitcoin user checks the receipts after buying bitcoins with naira on Bitcoin Teller Machine in Lagos, Nigeria September 1, 2020. Picture taken September 1, 2020. REUTERS/Seun Sanni Ernest Mbenkum, Founder and CEO at Interstellar, commented: “We are delighted to have established this strategic partnership with Interswitch, one of Africa’s most valuable fintech businesses. This marks the genesis of an innovative and collaborative partnership aimed at delivering impact-focused and enterprise-grade blockchain-powered services across the African continent.” Digital currencies are set to become the standard currency of making payments with central banks looking to create their own indigenous coins. For instance, in spite of banning bitcoin and other forms of cryptocurrency, The Central Bank of Nigeria (CBN)is set to roll out its own unique digital currency revealing how potential exists. How will this work? The two companies have been carrying blockchain-related research for the past 2 years and the partnership will see Interstellar’s Blockchain technology stack integrated with Interswitch’s industry-leading payments and digital commerce technology. It will be an integration of both technologies to enable enterprise users of Interswitch’s services to make bitcoin payments across the 5 African countries where-in they operate, creating ease for blockchain payments across Africa and facilitate trade within the Africa Continental Free Trade Area (AfCFTA). How will this change the game? For safe, secure and swifts transactions to occur, there has to be an existing baseline infrastructure to enable seamless payments. This is like the relationship between a train and the train tracks. Interswitch & Interstellar Unite To Develop Blockchain Infrastructure Services in Africa. Akeem Lawal, Divisional Chief Executive Officer for Transaction Switching and Payment Processing at Interswitch commented: “We are excited to partner with Interstellar on this journey and we look forward to the amazing things we will achieve together in the African market. This will enable us to progressively digitize multiple industry value-chains across African markets whilst also supporting the actualization of the Pan African Payment Ecosystem, riding the wave of opportunities created by such initiatives as the AfCFTA.” The partnership is also strategic as it lays a good foundation for the anticipated Pan African Payment Ecosystem (PAPE) which will be powered by a private blockchain network. This will involve a consortium of Banks and Fintech players. With a network like this, payments will be swift and leading to increased efficiency. With businesses looking to expand to new territories and countries, strategic partnerships such as these will help promote connectivity and promote cryptocurrency payments eradicating issues of settlement and dependency on hard currencies and currency fluctuations. If you’d like to get featured on our Entrepreneur Spotlight, click  here  to share your startup story with us. SUBSCRIBE Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.

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Research containing Interstellar

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Interstellar in 1 CB Insights research brief, most recently on Sep 19, 2019.

Expert Collections containing Interstellar

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Interstellar is included in 2 Expert Collections, including Fintech.

F

Fintech

7,109 items

US-based companies

P

Payments

1,614 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

Interstellar Patents

Interstellar has filed 1 patent.

The 3 most popular patent topics include:

  • Capacitors
  • Electrochemistry
  • Fuel cells
patents chart

Application Date

Grant Date

Title

Related Topics

Status

12/30/2016

11/19/2019

Polymers, Lithium-ion batteries, Capacitors, Electrochemistry, Fuel cells

Grant

Application Date

12/30/2016

Grant Date

11/19/2019

Title

Related Topics

Polymers, Lithium-ion batteries, Capacitors, Electrochemistry, Fuel cells

Status

Grant

Interstellar Web Traffic

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Page Views per Million (PVPM)
Reach per Million (RPM)
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