Bitcoin Payments In Asia Hold Strong As Cryptocurrency Prices Continue To Plummet
While many of the top cryptocurrencies are down in the dumps, BitPay has raised a total of over $70 Million in capital and processed over $1 Billion in Bitcoin Payments in 2017 .
BitPay’s CEO, Stephen Pair, announced in a press release that one of the company’s future goals is to expand into emerging markets in Asia, which is also one of BitPay’s fastest growing regions for cryptocurrency transactions and wallet adoption.
And despite the price of Bitcoin dropping, Menlo Ventures – whose portfolio includes companies like Uber, Warby Parker and Roku - still decided to invest in BitPay’s Series B round. This was also its first institutional cryptocurrency investment.
“We gravitated towards BitPay because we felt the company had identified a killer use for cryptocurrency in facilitating low cost payment solutions for cross-border commerce and business-to-business payments, which is a massive market poorly served by the existing payment rails,” said Tyler Sosin, a partner at Menlo Ventures.
Read more at:
https://www.forbes.com/sites/rachelwolfson/2018/04/05/bitcoin-payments-in-asia-hold-strong-as-cryptocurrency-prices-continue-to-plummet/#2dec21373b09
