16 Sep '13, 1pm

BitPay Passes 10,000 Bitcoin-Accepting Merchants On Its Payment Processing Network

Bitcoin payment processor startup BitPay has exceeded 10,000 Bitcoin-accepting merchants using its services to take payments via the decentralised digital cryptocurrency. Around this time last year BitPay had accepted its 1,000th merchant — so it’s a measure of the momentum behind Bitcoin that BitPay is growing at such a rate. The Atlanta-based startup, which was founded in 2011, raised $2 million led by Founders Fund back in May — bolstering an initial $501,000 round it closed in January . At the time of that initial raise, BitPay had some 2,100 merchants on its books. BitPay said its 10,000+ merchant network spans 164 countries, underlining one of the key differentiators for Bitcoin vs other digital payment methods: it’s ability to cross borders and carry on working. Lower fees is another reason merchants are taking more of an interest in Bitcoin, plus the lack of charge...

Full article: http://techcrunch.com/2013/09/16/bitpay-10000-merchants/

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