BitPay General Information Description. Developer of blockchain payments technology platform designed for secure bitcoin payment acceptance, savings, and spending. The company's platform offers a suite of software tools and makes it easy to accept bitcoin payments, provides businesses to collect payments over a peer-to-peer payment network, enabling bitcoin users to turn bitcoin into any. PrivCo is the source for business and financial research on major privately-held companies, including private market M&A, venture capital, and private equity deals.
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Crypto Open Patent Alliance Empowers Adoption and Advancement of Cryptocurrency Technologies
ATLANTA--(BUSINESS WIRE)--BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced a partnership with the Crypto Open Patent Alliance (COPA) to share open source projects and use a shared patent library. Founded initially by Square, Inc., COPA believes open access to patents and freedom from threats on foundational cryptocurrency technologies is necessary for the industry to grow, innovate, and build new products.
“BitPay is partnering with and supporting COPA because we believe that the blockchain space is at an inflection point where crypto is becoming mainstream forever changing the way businesses and consumers receive and spend funds,” Stephen Pair, CEO of BitPay, said. “We see both business and consumer adoption accelerating as a result of COPA industry leaders working together to advance technology innovation making the blockchain easy to use for both businesses and consumers.”
COPA is a non-profit community of like-minded people and companies formed to encourage the adoption and advancement of cryptocurrency technologies and to remove patents as a barrier to growth and innovation. COPA acknowledges that cryptocurrency technology is built on the collaborative efforts of a community made up of developers, engineers, and designers. COPA provides an open patent strategy where anyone can join and benefit from the alliance, regardless of whether they have patents or not.
“We want to eliminate barriers to innovation, rather than letting patents become one, and welcome BitPay and their many contributions to the blockchain and payments space,” said Kirupa Pushparaj, COPA Board Chair.
Businesses and consumers face major challenges when transacting cross borders. So, BitPay pioneered blockchain payment processing to enable borderless payments using cryptocurrencies like BTC, BCH, ETH, DOGE and stablecoins USDC, GUSD, PAX and BUSD. BitPay’s business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency. BitPay also offers consumers a complete digital asset management solution that includes the BitPay Wallet app and BitPay Prepaid Mastercard®, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses.
Founded in 2011, BitPay celebrates its 10th birthday this year as one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $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.
BY USING THIS CARD YOU AGREE WITH THE TERMS AND CONDITIONS OF THE CARDHOLDER AGREEMENT AND FEE SCHEDULE, IF ANY. This card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Mastercard International. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.
Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210414005067/en/
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ATLANTA--(BUSINESS WIRE)--BitPay, the largest global blockchain payments provider, today introduces the BitPay Card, the first Mastercard® Prepaid card for crypto users in the United States. The BitPay Card enables customers to instantly convert cryptocurrency into fiat currency, which is then loaded onto the card and can be spent anywhere Mastercard debit is accepted around the world. Customers can also use their cards online for purchases and to withdraw cash from ATMs.
“The BitPay Card offers new benefits and features for consumers making it easier to convert Bitcoin and other cryptocurrency into a spendable balance without currency risk,” said Stephen Pair, co-founder and CEO of BitPay. “We are excited to work with Mastercard to expand crypto’s use, while making it easy for businesses to attract new customers who want to spend Bitcoin and offer more places for customers with Bitcoin to shop.”
The BitPay Card offers a safe, smart, and fast way to convert crypto to fiat currency without conversion fees. The card features an EMV chip that provides added security and is contactless-enabled for payments. The BitPay Card requires the BitPay mobile app and can empower cardholders to reload their card, view transaction history and manage card settings on the go. The BitPay Card supports BTC, BCH, ETH, XRP and stable coins USDC, GUSD, PAX and BUSD. Funds are made available to cardholders in minutes, without having to wait on an exchange to transfer funds. The BitPay App not only tracks and manages card spend, but also allows you to purchase crypto and gift cards from popular brands. Applicants for the BitPay Card must be at least 18 years old and successfully complete identity and residency verification. To sign up, visit bitpay.com/card.
“At Mastercard, we’re committed to offering differentiated financial services to consumers on a global scale,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. “We’re excited to be working with BitPay to offer consumers greater choice and flexibility when it comes to managing their finances.”
“We’re honored that BitPay is using Galileo’s flexible APIs to power its BitPay Card, making it easy for customers to pay for purchases with bitcoins wherever Mastercard debit cards are accepted,” added Galileo Financial Technologies CEO Clay Wilkes.
About Metropolitan Commercial Bank
Metropolitan Commercial Bank®, The Entrepreneurial Bank, is headquartered in New York City and operates full-service banking centers in Manhattan; Boro Park, Brooklyn; and Great Neck, Long Island. The parent company, Metropolitan Bank Holding Corp., is a publicly traded company. The common stock of Metropolitan Bank Holding Corp. is listed on the New York Stock Exchange (NYSE) and trades under the ticker symbol “MCB.” Metropolitan Commercial Bank is a New York State chartered commercial bank, an FDIC member and an equal opportunity lender.
Metropolitan Commercial Bank is also an established leader in digital payments and one of the fastest growing U.S. issuers of virtually every type of debit card and keeping pace with rapid industry evolution and the trend towards mobile payment apps and all that FinTech has to offer.
For more information visit: www.MCBankNY.com.
Bitpay Stock Symbol
Founded in 2011, BitPay is the pioneer and the most experienced company in Bitcoin and blockchain payments. Its suite of products enables businesses to send and receive cross border payments, also enabling consumers to manage digital assets with the BitPay Wallet and turn digital assets into dollars with the major network-branded reloadable cards. The company has offices in North America, Europe, and South America and has raised over $70 million from leading investors including Founders Fund, Index Ventures and Aquiline Technology Growth. For more information visit https://bitpay.com
This card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Mastercard International Incorporated. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule, if any.