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BitPay Exceeds 1,000 Merchants for Bitcoin

Bitpay, a payments service provider for virtual currencies, offers tools for merchants to accept Bitcoin.

BitPay, a Bitcoin business solutions provider, announced it now has over 1,000 businesses using its service to accept Bitcoin digital currency for purchases.

The majority of BitPay's merchants are in the United States, followed by the U.K., Canada, Australia, and Finland. Businesses in a total of 98 countries use BitPay to process Bitcoin payments. Most of the Bitcoin-accepting merchants are eCommerce businesses, offering services ideal for virtual currency payments such as web hosting, domain registration, VPN services, and digital downloads, said the company.

Recently, the secretary of the Central Bank of Finland decreed that Bitcoin is legal to use in that country, further leading to an increase of Finnish merchants accepting the virtual currency, according to Bitpay.

“The sheer volume of new merchants has started to explode over the last month as more businesses begin to see the value in accepting Bitcoin payments," said Anthony Gallippi, co-founder and CEO of BitPay, in a statement. "By accepting Bitcoin, a business can receive a payment from any country, instantly, with no risk of fraud."

[See Also: Has Bitcoin Finally Arrived?]

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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