Bitpay Reported Processing More Than $ 1 Billion of Payments

Analysis

Bitpay processing company, specializing in working with digital assets, has published a report for 2018. According to the document, the provider has conducted more than $ 1 billion payments in cryptocurrencies.

This was achieved by increasing coverage. In 2018, Bitpay entered into partnerships with several large digital asset organizations, such as Dish Networks and HackerOne. In addition, cooperation with the tax authorities of Ohio has been established. Local lawmakers allowed residents to pay taxes using cryptocurrencies, and entered into an agreement with Bitpay for the processing of payments.

The total profit of the organization increased by 225% compared with 2017. This was achieved thanks to the expansion of the use of Bitcoin and other known cryptocurrencies.

As the founder of the company Steve Par said, the BitPay b2b sector will continue its development. Today, the company is a leader in the field of speed of transactions. Par believes that processing more than $ 1 billion a year with such a drop in the value of digital assets indicates the success and recognition of the organization. Bitpay processes payments not only in BTC, but also in BCH, and also conducts transactions with Circle, Gemini and Paxos stablecoins.

Diar also reported huge growth in cryptocurrency investments.

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