BitPay was founded in 2011 by Anthony Gallippi and Stephen Pair. According to an article in Time Magazine, Pair says that there have been internal discussions of a future IPO. "A lot of it has to do with what we think about timing," he says. "In the next couple of years we are likely to see very substantial growth.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
BitPay allows users to "store, swap and spend cryptocurrency all in one app." It is one of the largest cryptocurrency payment processors in the world. In 2020, Frost & Sullivan, a market research and consulting firm, named BitPay Company of the Year. In January 2022, the company appointed Jim Lester COO. BitPay has raised over $75 million in funding from investors including Global Secure Invest, James Sowers, 10X Capital, Launch Code Capital, and RRE Ventures. After a Series A funding round in 2014, BitPay had a post-money valuation of $160 million, though that number could be as high as $500 million by now.