BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, announced it ranked 341 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, and energy tech companies in North America. In addition, BitPay was selected as a finalist for Red Herring’s Top 100 North America award, one of the technology industry’s most prestigious prizes.
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“BitPay attributes these honors to the increased use of blockchain for payments globally solving real pain points for our customers,” said Stephen Pair, co-founder and CEO of BitPay. “As more businesses and consumers use the blockchain, adoption for first-time users is increasing because the blockchain makes it faster, more secure, and less expensive to send and receive money on a global scale.”
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual technology that is sold to customers in products to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
“For more than 25 years, we’ve been honoring companies that define the cutting edge and this year’s Technology Fast 500 list is proof positive that technology — from software and digital media platforms, to biotech — truly does permeate so many facets of our lives,” said Paul Silverglate, vice chairman, Deloitte LLP and U.S. technology sector leader. “We congratulate this year’s winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic.”
Red Herring finalists for the awards are among the continent’s brightest and most innovative private ventures. Red Herring’s editorial team has chosen their place among North America’s tech elite, during a months-long process that takes into account criteria including disruptive impact, proof of concept, financial performance, market footprint and quality of management. The Top 100 North America has become not only a springboard for some of tech’s biggest names, but a valued and trusted tool for venture capitalists, experts and analysts predicting trends at the industry’s sharpest edge.
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