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.
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