The venture capital and private equity firm, Delta-v Capital has announced its investment in BitPay.
BitPay deals with payments for more than 60,000 companies which include Microsoft, Gyft, Newegg, Virgin Galactic, TigerDirect, Warner Bros and many more. All the merchants are allowed to make their payment process using Bitcoin and Bitcoin Cash. The firm was founded in the year 2011 and grew tremendously in the world of cryptocurrency showing noteworthy results. By 2014, BitPay’s transaction amount crossed $1 million per day.
By March 2018, the team integrated BitCash as their payment gateway option along with BitCoin through which multiple merchants were able to accept Blockchain payments globally. This process eliminated the risk of credit card fraud and chargebacks. BitPay is also popular for its open source Bitcoin projects such as BitCore and Copay. Merchants will have the facility to accept Bitcoin with open source plugins and hosted software.
BitPay has also shown its inevitable presence in working with e-commerce industry and they have promoted the use of Bitcoin among many e-commerce platforms. The firm is expected to transact over $4 billion in annualized payment by the end of 2018.
Delta-v Capital along with Aquiline Capital Partners will fund BitPay’s emerging regions for transactions and wallet adoption. Almost $40 million funds will be invested in regulatory licensing, technology acquisitions, engineering hires, and expansion of BitPay’s market
Stephen Pair, CEO of BitPay says:
“BitPay had a record 2017 as we processed over a $1 billion in bitcoin payments. We are in terms with these new investors who can help BitPay scale globally to meet customer demand,”
Dan Williams, Principal at Delta-v Capital says:
“I think that we will look back at the advent of distributed blockchain technology as one of the most revolutionary advances since the internet, and the first area in which that disruption is already taking hold is around financial stores of value and payments,”
He also added:
“We are excited to be partnering with the BitPay team who were on the front edge of that movement in 2011 and continue to lead the charge towards increasing adoption and ease of use of Bitcoin and other crypto currencies.”
Source: Read Full Article