U.S.-based crypto payments processor BitPay says it processed over $1 billion-worth of transactions last year.
Announcing the news on Wednesday, the firm this the second consecutive time it’s reached the billion-dollar mark in its over seven years of existence.
“To process over a $1 billion for a second year in a row despite bitcoin [BTC]’s large price drop shows that bitcoin [BTC] is being used to solve real pain points around the world,” said Stephen Pair, BitPay co-founder and CEO.
Giving further highlights of the past year, the firm said its business-to-business venture saw revenue growth of about 255 percent year-on-year as new clients including law firms, data center providers and IT vendors signed up to accept crypto payments.
Notable new customers added in 2018 included subscription TV provider , online organization of security experts HackerOne and the U.S. state of Ohio, which in the nation to allow taxes to be paid in bitcoin [BTC] back in November.
The firm also added settlement support for bitcoin [BTC] cash (BCH) and stablecoins from Circle (USDC), Gemini (GUSD) and Paxos (PAX), while its focus still remains on bitcoin [BTC] (BTC), according to the announcement.
“bitcoin has the network effect around the world and we are still extremely bullish on bitcoin [BTC] and the bitcoin [BTC] ecosystem,” said BitPay head of product Sean Rolland.
During the year, BitPay also raised in a Series B round, bringing its total capital raised so far to over $70 million.
image via Shutterstock
Published at Thu, 17 Jan 2019 13:30:57 +0000