In line with a recent official ‘press release‘, renowned crypto payment service supplier ‘BitPay’ has revealed $1 Bln in transactions in 2018. As per the report, the corporate conjointly set a new records for itself in terms of transactional fee revenue. Among major new customers in 2018, BitPay named Dish Networks, HackerOne, along with the State of Ohio.
BitPay conjointly reported that its B2B business has matured by around 255 % from 2017.
Despite an enormous crypto market decline solely in 2018, BitPay’s chief operating officer and co-founder named ‘Stephen Pair’ added that the firm saw growth over the year as its products were “cheaper and much faster than a standard bank wire from most regions around the globe.”
While BitPay still focuses on Bitcoin [BTC], the service reports that it additionally further added settlement ‘support for alternative cryptocurrencies‘, specifically as Bitcoin Cash [BCH], along with stablecoins USD Coin [USDC], the Gemini dollar [GUSD] and Paxos Standard [PAX].
Earlier in April, BitPay secured around $40 Ml during a Series B funding round that enclosed major crypto and IT business players like Tencent co-founder Alvin Liu and Christopher Klauss Family work-office, founding father of Internet Security Systems [ISS], a firm owned by IBM in 2006.
Even later in 2018, BitPay’s chief operating officer claimed that he expects mass Bitcoin [BTC] adoption to return in the upcoming 3 to 5 years. In Nov., BitPay’s chief commercial officer named ‘Sonny Singh’, expected the price of Bitcoin [BTC] to rise between $15,000 USD to $20,000 USD by the end of this year in 2019.
Also in Nov., a recent ‘analysis‘ from blockchain analysis firm ‘Chainalysis’ stated that the employment of Bitcoin for commercial payments has dropped considerably in 2018.