BitPay launches mass crypto payout service for business

by in Cryptocurrency News

BitPay

Cryptocurrency processing service BitPay has launched BitPay Send payment platform for corporate clients. The solution allows for massive payments in cryptocurrency, writes Business Wire.

BitPay Send is suitable for settlements with contractors, payment of salaries, or bonuses for loyalty programs. The company noted that every transaction is verified, recorded, and stored on the blockchain.

The service is available in 225 countries. Recipients need to get a BitPay ID and start a cryptocurrency wallet. A transfer fee of 1% is charged.

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BitPay CEO Stephen Par called the ease of sending global transfers through cryptocurrencies a big business benefit. Companies don't need to buy, store and manage digital assets, he said.

Earlier, the processing service added support for the SegWit protocol for bitcoin wallets. That happened three years after the scandalous statement before the activation of the protocol.