“Can a regulated crypto payment processor become the default fiat<>crypto bridge for both merchants and consumers as stablecoins go mainstream?”
Founded 2011 as a bitcoin merchant-acceptance gateway — the original 'PayPal for Bitcoin' thesis. Over 15 years, BitPay expanded from a pure merchant processor into a vertically integrated crypto super-app: a non-custodial wallet, a prepaid card, bill-pay, payouts, and now embedded DeFi credit via the 2025 Aave-powered HODL Pay product. Strategy is to be the trust/compliance/UX layer between regulated fiat rails (NYDFS, Dutch DNB) and a multichain crypto economy.
BitPay processes payments through BitPay Acceptance Services (self-operated).
BitPay's lending and capital products are provided by Aave (HODL Pay).
BitPay uses BitPay (in-house fiat settlement in 38 countries) for FX and cross-border payouts.
BitPay's crypto products run on BitPay (self-operated crypto payment processor) and Aave (DeFi lending integration for HODL Pay).
BitPay integrates with QuickBooks (IIF export) and NetSuite (via Bitcoin Transaction Coordinator).
The Embedded Finance Index 2026 maps 5 layers in BitPay's stack: Payments / PSP (BitPay Acceptance Services (self-operated)); Lending (Aave (HODL Pay) and HODL Pay — borrow against crypto holdings via Aave to fund BitPay merchant checkouts and bill payments); FX & payouts (BitPay (in-house fiat settlement in 38 countries)); Crypto (BitPay (self-operated crypto payment processor) and Aave (DeFi lending integration for HODL Pay)); Accounting (QuickBooks (IIF export) and NetSuite (via Bitcoin Transaction Coordinator)).
BitPay was founded by Tony Gallippi and Stephen Pair and is founded in 2011, headquartered in Atlanta, Georgia, USA.
BitPay has raised ~$72M in total (latest round: Series B (2018)).
Get a read on where your own stack stands against BitPay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.