In the strategic partnership, Pigu.lt have agreed to use Monetha‘s payment processor across their portfolio of websites, after the development of Monetha’s Milestone 01, which is due for completion in early 2018. The roll-out includes the Latvian (220.lv), Lithuanian (Pigu.lt), and Estonian (kaup24.ee) markets, where online shoppers have access to over 400,000 products, including best-selling perfumes, clothes and electronics.

Monetha team commented: “To partner with a company of such size, influence, and reach, has been a long term dream of ours and we’re more than excited to help “Pigu.lt” unlock and enable payments for the Ethereum community, as Pigu group will become one of the largest online retailers to accept Ethereum based tokens in the world”.

Pigu Group boasts an impressive growth history, and today processes around 2 million orders per year. For the last 10 years, Pigu group has continued to strengthen their position as leaders in the market by being both innovative and open to new challenges — making them a well suited partner for Monetha.

This year, the consolidated turnover forecast for Pigu Group is over 100 million US dollars.

Monetha’s Co-founder Justas (on the left) and Pigu group CEO Dainius Liulys (on the left) in Pigu.lt warehouse

CEO of Pigu.lt, Dainius Liulys commented: “In order to ensure our leading position in the market, Pigu Group has been aware of Ethereum based currencies before. After seeing what Monetha offers to merchants, we discussed our options by meeting the co-founders and we are happy to have them as our payment processing partner for crypto currencies, once the product is developed to handle our transaction volumes.”

Monetha.io is a decentralised payment​ ​and​ ​trust​ ​solution​ ​on​ ​the​ ​Ethereum blockchain.​​ Through the use of ​smart​ ​contract​ ​technology payments are secured over a revolutionary trust system that analyzes the reputation of all parties, assigning an algorithmic trust rating to each party. By leveraging Ethereum blockchain technology, “Monetha” will empower merchants with a single step transaction that’s 5x cheaper and up to 10,000x faster than traditional alternatives.

Watch a video about Pigu.lt warehouse capabilities: