![]() In May 2013, BitPay announced that they had raised $2 million via Founders Fund. During an interview with Tech Crunch Gallippi announced that BitPay was processing on average $5 million per month in Bitcoin transactions for its merchants. Payments began to be processed initially via Gyft's Android app. Gyft, who specialise in gift cards, partnered with BitPay in 2013. Shortly after the launch of BitGive, it was announced that BitPay would be the merchants for the charitable organization. The board of directors included the BitPay cofounder, Pair. The charitable foundation was created by Connie Gallippi, the sister of BitPay's Chairman and co-founder, Gallippi. Later that year, it was announced that the first bitcoin charity would be established, the BitGive Foundation. At the time the Technology Association of Georgia (TAG) stated that the state of Georgia was home to more than 90 fintech companies. According to the company's co-founder, the city of Atlanta was chosen due to the number of fintech companies located in Georgia. ![]() The move came following the announcement the company had secured $510,000 in seed funding. Europe and the UK accounted for 25%, with the remaining merchants spread across a total of 98 countries.īitPay announced in January 2013 that they would be relocating their headquarters to Atlanta, Georgia from their previous location, Orlando, Florida. Around the same time a breakdown of BitPay's customer base was discussed with around 60% of their merchants based in the United States. In September 2012, the company announced that it had reached the milestone of 1,000 merchants using BitPay to accept bitcoin payments. Bitcoin at the time had no central authority, meaning BitPay couldn't lock entire countries out. The move came to make WordPress more accessible to bloggers in countries that frequently faced blocks for either financial or political reasons. One of the first major partnerships came in 2012, when BitPay became the official bitcoin merchant for WordPress. Within the first year by October 2012, BitPay had grown to having 1,100 active merchants. At the time he announced that the company had around 100 merchants actively using their service. ![]() Following the foundation of the company, co-founder Gallippi visited a conference in Prague in November 2011 to discuss bitcoin. BitPay was first founded in 2011 to provide mobile checkout services to companies that wanted to accept bitcoins.
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