GoCoin, Ziftr Examine Possibility of Merger, Forming Large Blockchain Payment, Loyalty Platform

International blockchain payment platform GoCoin and customer loyalty firm Ziftr have reached an agreement to proceed with strategic merger discussions.

After BitPay and Coinbase, GoCoin is the third largest blockchain payment processor and the only major player processing Litecoin, Dogecoin, Tether and altcoins in addition to Bitcoin. GoCoin claims to have more than 7,500 merchants and over 500 new signups monthly. The company has attracted marquee brands like PayPal, RE/MAX UK, Shopify, CheapAir, eGifter and top Bitcoin mining companies Bitfury, Zoomhash, Hashpros and KnCminer. Based in Los Angeles, GoCoin has gained recent traction with entertainment companies such as Lionsgate Films. It says it is working with additional entertainment and ticketing industry companies in test markets before announcing a broader offering.

Ziftr recently launched ziftrPAY, a cryptocurrency and credit card payment platform and customer loyalty program that tokenizes credit card information for secure transactions. In addition to ziftrPAY, Ziftr has created ziftrCOIN, a digital coupon coin designed for use as part of a customer loyalty program, and ziftrWALLET, a mobile multi cryptocurrency wallet. ziftrCOIN and ziftrWALLET were both designed to provide an incentive for shopping with digital currency, with cash back rewards.

Steve Beauregard, founder and CEO of GoCoin, commented:

When consumers ask ‘what’s in it for me?’, Bitcoin has a serious adoption problem. Loyalty points play a key role in a consumer’s choice of payment method, and with the ziftrCOIN loyalty platform integrated into the ziftrWALLET, I believe we can finally give consumers the right experience to choose digital currencies over cards at checkout.

Bob Wilkins, CEO of Ziftr, added:

Ziftr has many of the necessary assets to accelerate mainstream adoption of digital currency, so merging with GoCoin and gaining access to its rapidly growing network of merchants gives our combined altcoin-friendly company the power to truly disrupt the $20 trillion global payments market. Our platform will allow merchants of all sizes to benefit from the transparency and efficiency of blockchain payments by giving them a better solution than what’s currently available.

Founded in July 2013, GoCoin has received over $2 million in funding led by Bitcoin Shop, Inc. (OTCQB: BTCS) and maintains offices in Singapore, London, Douglas and Santa Monica.