Over the past year, the BitPay blockchain platform processed cryptocurrency payments worth over $ 1 billion.
Compared to 2017, the growth of payments in cryptocurrencies amounted to 225%, and the company manages to hold a mark over a billion dollars for the second year in a row, despite the market decline. The growth in the number of transactions contributed to attracting new large customers, including Dish Networks, HackerOne, and the Ohio administration. The expansion of the company’s B2B business was also facilitated by the fact that many law firms, data center providers, and IT service providers started accepting payments at BTC.
“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and faster than bank transfer from most regions of the world. Processing more than $ 1 billion for the second year in a row, despite a significant drop in Bitcoin prices, shows that BTC is used to solve real problems all over the world, ”said BitPay co-founder and CEO Stephen Pair.
Currently, the platform supports payments not only in Bitcoins – in 2018 support for Bitcoin Cash (BCH) was added, as well as support for USDC, GUSD and PAX steylcocks. In April, BitPay raised $ 40 million in an expanded round of B-series financing, with plans to get $ 10 million less.
The company noted that last year they managed to significantly reduce the number of errors in payment – the amount of lost funds in dollars decreased from 8% to less than 1%.
Earlier, Stephen Per predicted that cryptocurrency payments will become widespread in 3-5 years.