Monetha Signs Partnership Deal with Dominant Baltic Online Retailer

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Monetha, today announced a strategic partnership deal with the largest online retailer in the Baltic States, Pigu.lt.  The deal is the first of many to come, enabling online shoppers to purchase goods using Ethereum based tokens via a seamless checkout experience.

Through the strategic partnership Pigu.lt have agreed for the Monetha integration to be rolled out across their portfolio of websites, following the final development of Monetha’s Milestone 01 – due for completion in early 2018.  The roll-out includes the Latvian (220.lv), Lithuanian (Pigu.lt), and Estonian (kaup24.ee) markets, where online shoppers have access to over 400,000 products, including best-selling perfumes, clothes and electronics.

Co-founder of Monetha, Justas Pikelis commented:

“To partner with a company of such size, influence, and reach, has been a long term dream of ours and we’re more than excited to help “Pigu.lt” unlock and enable payments from the ethereum community”.

The implementation of the roll-out indicatively positions Pigu.lt as one of the largest e-commerce stores in the world to accept Ether, and arguably one of the more forward thinking e-commerce players in the space.

Pigu Group boasts an impressive growth history, and today processes around 2 million orders per year.  For the last 10 years, Pigu group has continued to strengthen their position as leaders in the market by being both innovative and open to new challenges – making them a well suited partner for Monetha.

This year, the consolidated turnover forecast for Pigu Group is over 100 million US dollars.

CEO of Pigu.lt, Dainius Liulys commented:

“In order to ensure our leading position in the market, Pigu Group has been aware of Ethereum based currencies before. After seeing what Monetha offers to merchants, we discussed our options by meeting the co-founders and we are happy to have them as our payment processing partner for crypto currencies, once the product is developed to handle our transaction volumes.”

Monetha.io is a decentralised payment​ ​and​ ​trust​ ​solution​ ​on​ ​the​ ​Ethereum Blockchain.​​ Through the use of ​smart​ ​contract​ ​technology payments are secured over a revolutionary trust system that analyzes the reputation of all parties, assigning an algorithmic trust rating to each party. By leveraging Ethereum Blockchain technology, “Monetha” will empower merchants with a single step transaction that’s 5x cheaper and up to 10,000x faster than traditional alternatives.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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