BitPay, a blockchain payment processor that supports Bitcoin (BTC) and Bitcoin Cash (BCH), announced today that it has been granted the eighth “BitLicense” from the New York State Department of Financial Services.
— BitPay (@BitPay) July 16, 2018
According to the announcement, the new license enables BitPay to do business with companies and consumers based in New York. Additionally, businesses based in New York that use BitPay can now accept Bitcoin and Bitcoin Cash for purchases from customers globally.
In a statement accompanying the announcement, Stephen Pair, CEO of BitPay, emphasizes that securing the BitLicense is a significant testament to the company’s operations and growth.
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.