Some merchants are doing $10M a month in bitcoin payments says BitPay’s Sonny Singh

Some merchants are doing $10M a month in bitcoin payments says BitPay’s Sonny Singh

“Bitcoin is actually working,” says Sonny Singh, BitPay’s COO, in an interview with a China based crypto media.

He said BitPay processed $1.2 billion worth of bitcoin payments last year. This year, “we do a transaction at BitPay every 10 seconds in the world,” he says.

“There are so many people spending bitcoin,” Singh said, before revealing that some of their merchants “are doing between 1 million and 10 million dollars a month.”

The last known number of BitPay merchants is 100,000, including Microsoft, Newegg, TiggerDirect and others. Some merchants however do not want to be named. In the context of regulations, which he says BitPay welcomes, Singh said:

“We still have a lot of customers that use our product, but they are afraid to announce it to the public, they think it might get them into trouble for some reasons.”

By Trustnodes.com

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Tony Perkins
Tony Perkins is founder and editor of Alchemist and Cryptonite. Tony previously founded Red Herring, AlwaysOn, The Churchill Club, and cofounded Silicon Valley Bank's Technology Group.

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