A Poland-based startup, InPay, is looking to increase bitcoin acceptance among merchants and lower their transaction costs. Like with other processors, bitcoins accepted would be immediately converted to the local currency.

The startup is also looking to crowdfund its growth with bitcoins through Beesfund. 24% of its 200,000 PLN ($60,420) goal has been reached.

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InPay highlights its belief that Bitcoin has made solid inroads into Poland. The rate of wallet downloads and merchant acceptance is above average relative to other European markets, and two of Europe’s ten major bitcoin exchanges are located in the country. In July, Poland’s finance minister indicated that bitcoin-based derivatives can be legally considered as financial instruments- a matter still being mulled by authorities in other countries, such as the CFTC in the US.

In a press release, it is claimed that the equity sale makes InPay the “First in the World to Sell Shares for Bitcoins”. One should note that platforms such as Havelock Investments and MPEx allow for the same.

In general, potential investors need to investigate the legal significance of their investments. Namely, do they become legal shareholders of the company in question, or is the extent of their crowdequity recognition limited to the authority and discretion of the crowdfunder they’ve engaged?

In the case of Beesfund’s campaign for InPay, a note at the end reads, “This material is for promotional purposes only and public offering type does not require prospectus.”