“Apart from ex-PayPal boss Peter Thiel, the fund’s advisers include Napster founder and Facebook adviser Sean Parker along with ex-Google and SpaceX staff. The company was started in May 2011 by two graduates from Georgia Tech. Their aim is to make taking bitcoin payments as easy as credit card transactions for businesses. It takes a set fee of 0.99 per cent on automated transactions. BitPay claimed 1,900 new merchants signed up in April and it continues to sign up over 100 new customers every day. It is currently processing around $5m of Bitcoin transactions per month.”
http://www.coindesk.com/peter-thiel-founders-fund-lead-2m-funding-round-in-bitpay/
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