Mycelium Integrates Glidera, Raises $1 Million in Wallet Project Crowdsale

Mycelium, a digital currency wallet developer based in Cyprus, has partnered with fiat currency payment service Glidera, to offer its US and Canadian users the option of purchasing bitcoin with traditional currencies.

Glidera offers its API to wallet developers for easy integration, while the company handles all the back office compliance and regulatory details. Glidera uses low-cost ACH transfers to move fiat currency between customer accounts. Dave Ripley, CEO of Glidera, said his company is “excited to join forces with the Mycelium team” and explained that Mycelium users will benefit greatly from this partnership.

Mycelium Vice president of product, Nikolay Chichkanov, explained that the integration of Glidera is just another step in the company’s overall strategy to make Mycelium a “hub for financial services.”

In related news, the Mycelium Wallet Project crowdsale – which allows investors to gain 5% of the company in non-dilutable Stock Appreciation Rights (SARs) via the purchase of colored coin tokens – will be ending in about 15 hours. The crowdsale began on the 1st of May, and the total amount raised so far stands at 2168 BTC ($986,440). The crowdfunding page states that the Mycelium Wallet is currently valued at 43,372.733 BTC ($19.7 million)

The SARs will be distributed to investors at the end of the crowdsale, which will give holders the option of converting these rights to actual class B shares, at some point in the future. According to the legal disclaimer posted, the tokens are not actual securities and will not be traded on any regulated exchanges:

“Mycelium Token owners may sell their tokens to any third party.”

In an interview with Bitcoin Magazine, Dmitry Murashchik, community manager at Mycelium, explained that the SARs “grant you rights to a company’s assets, but you can cash out on your own.”

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