ATLANTA–(BUSINESS WIRE)–BitPay, the world’s largest provider of bitcoin and cryptocurrency payment services, today announced that two new exchanges and two new wallets are adopting its precision payment protocol, including leading crypto providers Bitso, Bitstamp, Edge and Guarda.
BitPay’s accurate payment protocol, the BitPay Protocol, enables more reliable blockchain payments by eliminating common payment exceptions, including overpayments, underpayments, late payments, unconfirmed payments, and potential payments. at double expense. In addition to new partners, the BitPay protocol has already been adopted by Blockchain Wallet, the largest self-service wallet in the world. Many other top wallets are also enabled for payment, including Electrum, BRD, Metamask, Ledger and more. Verifone’s 600,000 merchants, with a footprint of 35 million devices, have also automatically enabled BitPay’s payment protocol for in-store and online purchases.
BitPay first released its Precise Payment Specification in 2017 to eliminate payment exceptions in cryptocurrency transactions, setting the standard currently adopted by major wallet organizations. Since then, the company has expanded the features available and businesses can now accept crypto through BitPay and receive error-free payments from over 200 million crypto users. As a blockchain payment processor, BitPay’s goal is to work with all wallets, and BitPay is the only payment processor that works with over 100 different wallets to facilitate and optimize consumer-to-business and consumer payments. business to business. The company has processed more than $5 billion in payment volume since its inception, for tens of thousands of businesses worldwide.
“Companies accepting crypto should be able to accept payments from any crypto wallet and payments should be released quickly and without payment expectations. The BitPay protocol delivers all of these benefits and BitPay is thrilled that our new and existing wallet and exchange partners have set the industry bar for payment quality,” said BitPay CEO Stephen Pair. “We are developing payment technology solutions to transform the way businesses and individuals send, receive and store money around the world, making payments faster, safer and cheaper.”
“Since Edge’s inception, we’ve always been passionate about people genuinely using cryptocurrency to buy and sell goods and services,” said Paul Puey, CEO/Co-Founder of Edge. “We are pleased to support the BitPay payment protocol to streamline the point-of-sale user experience for thousands of merchants and drive cryptocurrency adoption.”
Founded in 2011, BitPay is one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform the way businesses and individuals send, receive and store money. Its business solutions eliminate fraudulent chargebacks, reduce the cost of payment processing, and enable borderless cryptocurrency payments, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and the BitPay Prepaid Card, enabling them to turn digital assets into dollars to spend at tens of thousands of businesses. The company has offices in North America, Europe and South America and has raised over $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group and Aquiline Technology Growth. For more information, visit bitpay.com.