Latest News

‘BitPay Send’ Launched For Mass Payment Service

Crypto payment services provider BitPay has launched BitPay Send, a new blockchain-powered mass payout platform for businesses. BitPay Send allows organizations who do not want to handle or own crypto themselves to process crypto payments en masse.

It can be used to complete payroll payments, pay contractors or affiliates, or process customer cashback and rewards programs. Available in 225 countries recipients ju need to pass KYC and have a crypto wallet. BitPay claims the platform cuts processing times from days to minutes. The service has already been adopted by advertising platform AdGate Media in order to pay affiliates around the world.

AdGate President Dan Sapozhnikov explained that many of their affiliates are located outside of North America and Europe where access to bank accounts can be difficult and so they want “to be paid in Bitcoin.” But he said that the firm “did not want to buy and hold crypto”, adding:

“Having BitPay manage that risk was an important factor in choosing BitPay Send. With BitPay Send, we are able to get our affiliates paid in a matter of minutes and not days.”

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.