The popular cryptocurrency exchange Bitpay has published data indicating that the company maintained strong performance during 2018, despite the market downturn. For example, while other enterprises were forced to reduce staff, the number of Bitpay employees increased by 78% over the previous year.
Bitpay announced a high performance payment processing platform in 2018, after more than seven years of operation. During the year, the company reportedly processed payments in excess of $ 1 billion and set a new record for revenue from transaction fees, adding new customers.
The B2B company reportedly also had a record year, as operations grew by almost 255% from the previous year.
Stephen Par, co-founder and CEO of Bitpay, said:
B2B Bitpay continues to grow rapidly as our solution is cheaper and faster than bank transfer from most regions of the world. And processing payments in the amount of $ 1 billion for the second year in a row, despite a significant drop in Bitcoin prices, shows that BTC is used to solve real problems around the world.
The company also reports that its number increased by 78% in 2018, thanks to new employees in the area of design and support, bringing the total number of employees to 80 people.
Bitpay also raised $ 40 million to fund Series B, with the result that the total capital raised exceeded $ 70 million.
It is worth noting that the Copay wallet, Bitpay and other wallets using the Bitcore Wallet Service (BWS) sent billions of dollars to BCH and BTC for 2018. In total, to date, users have created more than 1.5 million wallets using Bitpay and Copay.
The company also reports that it set a record for reducing the number of errors in payments, while the volume of losses decreased from more than 8% (December 2017 figure) to less than 1% of the total processing volume in dollars.
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