26 Jul '13, 11am

Bitcoin payment processor BIPS abandons Mt. Gox for Bitstamp

Bitcoin payment processor BIPS abandons Mt. Gox for Bitstamp

Adding to the strife over at Mt. Gox, payment processor BIPS has abandoned the exchange, instead signing with Bitstamp . BIPS is a two-year-old payment processor cited by Crunchbase as the largest provider of bitcoin payments in Europe. The Copenhagen-based firm, founded by Kris Henriksen, had been using Mt. Gox to convert between fiat currency and bitcoin. It threw in the towel with Mt. Gox early this week, explaining that the number of sell orders is increasing as merchants embrace bitcoin payments. Mt. Gox continues to be slow processing withdrawals, and is having problems keeping up, BIPS explained. Henriksen refused to provide statistics about the company’s bitcoin processing volumes, or growth rate, other than to say “quite a few,” and “very quickly”. But it does depend on a steady flow of conversion between bitcoin and fiat currency, he explained. Dealing with Mt. G...

Full article: http://www.coindesk.com/bitcoin-payment-processor-bips-ab...

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