The European bitcoin exchange and payment services provider, Paymium has recently raised 1 million euros as seed fund from an army of investors. Newfund, Kima Ventures, Galitt along with few undisclosed individuals have been part of this investment round.

Paymium, headquartered in Paris was founded in the year 2011. The company has been offering a high performance bitcoin trading platform for its users ever since. Apart from the bitcoin trading platform, Paymium also offers payment services which can be used by merchants to accept bitcoin payments without having to worry about the digital currency’s volatile nature. Bitcoin payments received by merchants over Paymium platform are immediately converted to euros, thereby preventing any fluctuations in bitcoin price from affecting the merchants.

Paymium has been offering tits payment solutions to various companies including POS provider Ingenico and Showroomprive — an online retailer. According to the president and co-founder of Paymium Pierre Noizat, the company is working on increasing the bitcoin trade volumes on its platform. In order to achieve the goal, the company has recently launched a couple of new products including an advanced bitcoin trading platform targeted towards professional traders and a new money transfer service.

The new money transfer service announced by Paymium allows users to transfer funds over email. Currently available only in Europe, Paymium does not charge a penny for these transactions over the email. Even though the company has raised a huge sum of 1 million euros as seed fund, Pierre Noizat claims that the funding amount is too less.

Pierre claims that the awareness about bitcoin among the general public and investors is more in United States and other English speaking countries in comparison with non-English speaking nations. He is also said to have mentioned that a lot has to be done in the Europe to raise awareness about bitcoin and the funding amount is not enough to do so.

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