Bitcoin has had a phenomenal year in 2017 creating many milestones and the startup Bitpay is breaking records this year as well. The business created by Stephen Pair and Tony Gallippi started six years ago, and since then the company has become the largest bitcoin payment provider globally.
“We’ve seen major growth this year,” explains Bitpay. “We’re now on pace to process over $1B annually in bitcoin payment acceptance and payouts, and we’ve already grown our payments dollar volume 328% year-over-year from 2016.”
Bitpay also says they have seen a lot of growth in bitcoin spending. According to the company’s merchant-base, the startup’s “merchants are receiving $110M+ in bitcoin payments per month.” For instance, the precious metals brokerage JM Bullion processed roughly $4M in BTC sales in June. Alongside this, the popular electronics shop Newegg doubled its bitcoin sales says Bitpay and a lot of merchants are seeing $1M a month in bitcoin revenue.
The company’s report explains that the U.S. and Europe are the showing significant growth when it comes to bitcoin payments. In Latin America, the firm has seen bitcoin payment transactions double since August of 2016. Bitpay is also seeing a lot of merchants stemming from the Asia-Pacific region which is starting to cover a good portion of the company’s monthly transactions. Through partnerships in Asia, Latin America, and Europe with companies like Asiapay, PPRO, Paysafe, and Payu the firm has seen considerable international growth.
Full story at http://bit.ly/2xUwWAy
Source: Bitcoin News
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