BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   630

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.

Avnet to Accept Bitcoin

Avnet is US company from Fortune 500 list; it used BitPay to create this opportunity
20 March 2019   344

The technology provider Avnet, on the Fortune 500 list, announced support for Bitcoin and other cryptocurrencies as payment options. The company from Phoenix, Arizona realized this opportunity with the support of BitPay processing service.

We’re working with BitPay to facilitate secure blockchain payments for all types of customers so they can focus on developing their products, not how to pay for them. Whether it’s Bitcoin or Bitcoin Cash, we can handle it.
 

Sunny Trinh

Vice president of demand creation, Avnet

The company’s statement also says that it cooperates with the Bitcoin.com portal regarding “creating a new hardware wallet suitable for storing cryptocurrencies and providing the highest level of transaction security.”

In January of this year, the non-profit organization Wikimedia Foundation, managing the free encyclopedia Wikipedia, entered into a partnership with BitPay to receive donations in Bitcoin and Bitcoin Cash.