BitPay
Also a provider — view BitPay’s profile →“Can a regulated crypto payment processor become the default fiat<>crypto bridge for both merchants and consumers as stablecoins go mainstream?”
Founded2011
HQAtlanta, Georgia, USA
FoundersTony Gallippi, Stephen Pair
Total raised~$72M
Latest roundSeries B (2018)
IndustryFintech / Crypto
The story
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.
Product timeline
2011
Founded in Orlando to provide bitcoin checkout services to merchants· launch
2013
Relocated HQ to Atlanta; raised $510K seed then $2M led by Founders Fund· funding
2020
Launched BitPay Card (prepaid debit) for spending crypto· card
2022
Expanded support to 100+ cryptocurrencies and stablecoins (USDC, GUSD, BUSD)· product
2025
Launched HODL Pay — borrow against crypto via Aave integration to pay merchants· lending
2025
Added Solana network support across the BitPay wallet and acceptance products· product
Regulated entities
3
regulatory licences held by BitPay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in BitPay’s embedded-finance stack
Payments / PSP
BitPay Acceptance Services (self-operated)
Lending
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting
in the full report
Accounting gap: minor
7 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.