One of the largest crypto payment service providers BitPay has reported $1 billion in transactions for 2018 according to their official press release coming in into our crypto news today.
Following the report, BitPay seems to have set another record in terms of transaction fee revenue after also gaining a couple of new customers such as Dish Networks, HackerOne and the State of Ohio. Another important notice, BitPay’s B2B business has also grown up by nearly 250 percent since 2017.
Despite the huge crypto decline last year, co-founder and CEO of BitPay Stephen Pair pointed out that the company saw some growth over the year only because the product is much cheaper and faster than a bank wire from all around the world.
The crypto payment service provider is still focusing on Bitcoin but, the reports show that BitPay has added another settlement support for other cryptocurrencies such as Bitcoin Cash but also for the USDC stablecoin and the Gemini dollar.
Back in April, the company secured $40 million in Series B funding where major crypto industry players such as Tencent were included. Tencent is a company acquired by IBM back in 2006 and run by Alvin Liu and Christopher Klaus Family Office.
CEO Stephen Pair also noted that his expectations for mass bitcoin adoption will come true in three to five years whereas BitPay’s chief commercial officer Sonny Singh has a prediction that BTC’s price will skyrocket up to $20,000 by the end of 2019 and as he believes, there won’t be any significant price movements in BTC (up or down) until institutional names come to market with their own products.
Guangdong Province In China To Use Blockchain-Based Tax Payment Platform
“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
Mining Giant Bitmain Launches New Generation ASIC Mining Chip
Waste Management Firm Launches Blockchain Platform In A City In UAE
Japanese E-Commerce Giant Rakuten’s App To Support Crypto Payments
Join us on Facebook
- Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
- CFTC Commissioner Believes In Creating A Self-Regulatory Crypto Structure
- Guangdong Province In China To Use Blockchain-Based Tax Payment Platform
- Mining Giant Bitmain Launches New Generation ASIC Mining Chip
- Bitcoin Goes Over $3,750 As Total Market Cap Rises To $126 Billion
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News4 days ago
JPMorgan Chase Will Launch Its Own Cryptocurrency ‘’JPM Coin’’
Altcoin News3 days ago
Bloomberg Editor: JPMorgan’s Cryptocurrency Will ‘Obliterate’ Ripple
Bitcoin News1 day ago
Bitcoin Is Closer To A First Positive Month Since July 2018
Regulation3 days ago
New Blockchain Framework Bill Passed Into Law In Luxembourg
Altcoin News2 days ago
Norwegian Anarcho-Capitalist City Adopts Crypto As Official Medium Of Exchange
Altcoin News1 day ago
ETH-Based Maker (MKR) Outperforms In February With 37% Gains
Altcoin News4 days ago
New XRP Ledger Version 1.2.0 Introduced By Ripple
Bitcoin News3 days ago
Is It About Time Millennials Invest All-In On Bitcoin: Investor Talk