InPay SA, the Polish Bitcoin payment services provider, is reported to have launched their own crowdfunding project that enables users to buy shares for Bitcoin.
The company is said to have received approval for the project from the Polish Financial Supervision Authority, which corresponds to the approval by the U.S. Securities and Exchange Commission, and, according to the creators, this approval makes the project itself unique. InPay shares are now available to be purchased by customers on the official website of Beesfund crowdfunding platform.
In total, the company plans to earn about $60 thousand (ca. 200 thousand zlotys), which will be spent on the expansion and further development. 5% of InPay’s shares were put up for public sale, and more than a quarter of this amount has been sold by now.
According to InPay president Lech Wilczyński the issue of shares was registered officially in the country’s financial institutions. The shares are sold at a price of PLN 40 per share, and so far they have been purchased by more than 100 investors. The offer is open until November 16th. Despite the fact that the shares are sold for virtual currency, the buyers get them in paper by mail shortly after purchase.
The head of Beesfund Arkadiusz Regiec noted that usage of Bitcoin in this project cannot be overstated, as it makes the whole share purchase procedure much easier, and reduces operating costs.
Poland is a very promising market for the development of Bitcoin payments: the country is among the top ten in terms of downloaded Bitcoin clients; also, Poland ranks 12th globally in terms of active Bitcoin hubs.
Meanwhile, the Polish authorities are still at the discussion stage of their official position on cryptocurrencies. Earlier this year, the Ministry of Finance of Poland issued a document stating Bitcoin is officially recognized a financial instrument, but not a currency.