As per a press release dated Wednesday, January 16, 2019, for the second consecutive year cryptocurrency payment processor BitPay processed more than $1 billion USD in 2018, despite the large price drop in cryptocurrency prices.
The seven year old company saw revenue growth of 225% year on year as notable clients including: TV provider Dish Networks, internet security company HackerOne and the US state of Ohio signed on. Ohio was the first state in the country to start accepting bitcoin payments for taxes in late 2018. The company also said it also acquired new clients accepting crypto as payment such as: law firms, IT vendors and data centre providers.
While still remaining focused on Bitcoin, BitPay also added support for Bitcoin Cash and stablecoins from Circle, Gemini and Paxos in 2018.
It was also announced that Rolf Haag, a former Western Union and PayPal executive joined the company as Head of Industry Solutions.