Digital currency service provider NoveltyLab has been selected as one of the winners that will join the inaugural Plug and Play Bitcoin accelerator program.  Plug and Play Tech Center, a leading startup investor, launched a program to assist up-and-coming Bitcoin startups.  Bitcoin is a new and disruptive technology that will revolutionize payments and how we exchange value.

Plug and Play Tech Center is a leading startup investor and accelerator based in Silicon Valley.  It has helped the startup community raise over $1.6B in venture funding, and has invested in 200 plus companies including such well known companies as PayPal, Dropbox, Lending Club and Zoosk.  Over 75 companies from 25 countries have applied for the inaugural Bitcoin accelerator program.  Four selected companies, including NoveltyLab, will each receive $25K investment and given access to a group of carefully selected mentors.  Among other mentors, the four startups will have access to such well known Bitcoin enthusiast and expert as Andreas Antonopoulos and advice from well-known legal firm specializing in digital currencies.

Plug and Play Tech Center

NoveltyLab was founded by two university friends and software engineering experts Andrey Zamovskiy and Nickolay Babenko.  In 2012, they released their first product offering merchant services for Bitcoin payments.  A year later the company launched a fixed rate digital currencies exchange that enabled clients to purchase bitcoins with credit cards.  Last year, the company was joined by several payment industry professionals, including a seasoned entrepreneur Taras Kuzin.  Kuzin was a director at Western Union and First Data and responsible for development of innovative financial services.  NoveltyLab’s recently launched next generation HolyTransaction platform is multicurrency digital wallet that offers seamless exchange among top crypto-currencies and is integrated with social networks.

Zamovskiy says: “We are excited about the partnership with such a well-known company in the startup community and both tangible and intangible resources this partnership will brings to our company!”  The company is developing several exciting products and services for less financially sophisticated consumers, who wish to instantly buy and sell all major digital currencies.  It is in the process of finalizing a deal with a payments company, which will enable NoveltyLab to be operational in all 50 states.

Learn more at

Related posts