Eligma, known for developing the GoCrypto payment system, enables users to make cryptocurrency payments at points of sale, while merchants can receive these payments in their local currency, reports Finance.
According to Finance, Tether initially entered Eligma’s ownership structure early last year with a €10 million capital infusion. Together with BFX Ventures Limited, Tether acquired nearly a 20% stake in Eligma at that time. Now, Tether has purchased shares from most of the other owners, raising its ownership to 68.55%, and through three additional entities, Tether’s total stake exceeds 90%. Documents reviewed by Finance indicate that the purchase price, which could increase under certain conditions, was approximately €1 million per percentage of the company, valuing Eligma at €100 million.
Dejan Roljić, previously the largest individual shareholder, retains a 7.55% stake and continues to serve as the director of the Ljubljana-based company. In its early stages, Eligma received financial backing from Jože Mermal, long-time head of BTC, and the company BTC, which have now exited their ownership positions. Mermal held a 2.5% stake, while BTC owned 10% of Eligma.
