Global blockchain payments provider Bitpay reported a record revenue over 2018, with more than $1 billion in transactions. The observed business performance is said to be attributed to the substantial inflow of new customers, including Dish Networks, HackerOne, and Ohio (USA).
According to the available data, strong figures were also posted by Bitpay’s B2B division. Specifically, the revenue skyrocketed 225% year-on-year. The company stated that the upturn was driven by the fact increasing interest in bitcoin payments expressed by the companies from different business areas, including storage service providers and vendors.
Bitpay’s B2B branch is said to be surging as it is cheaper and faster compared to bank operations in most regions of the world. The company managed to process more than $1 billion transactions in two consecutive years, proving the viability of bitcoin payments.
Moreover, Bitpay reportedly slashed the number of errors in USD payments from 8% to less than 1%.
After applying payment protocol, the companies benefited from better payment conditions practically at once. This can be explained by the fact that payments in bitcoin were accepted quite smoothly, without any support problems.
According to the company, the current staff amounts to 80 employees (78% up y-o-y).