Bitpay, the Atlanta-based cryptocurrency payment processing company, has expanded its suite of services with the launch of Bitpay Send, a mass payout platform designed to help organizations of all sizes pay employees, freelancers, and affiliates in digital currencies. The move signals a growing convergence between traditional payroll systems and blockchain technology.
What Is Bitpay Send?
Bitpay Send functions as a batch payment solution that enables employers to deposit fiat currency with Bitpay, which then executes blockchain transactions to send crypto directly to recipients’ wallets. Recipients do not need a bank account; they only require a crypto wallet and a Bitpay ID. This removes the friction of cross-border banking and reduces settlement times from days to minutes.
First Customer: Adgate Media
Adgate Media, a digital advertising network, has already integrated Bitpay Send to pay its affiliates. Company President Dan Sapozhnikov explained why: “We have lots of affiliates who wanted to be paid in bitcoin, especially those based outside North America and Europe where access to bank accounts is difficult.” He added that a key reason for choosing Bitpay was the ability to outsource crypto risk management: “We did not want to buy and hold crypto, and having Bitpay manage that risk was an important factor.” The result: affiliates now receive payments in minutes instead of days.
Fees and Supported Assets
Bitpay charges a 1% fee for cross-border transactions processed via Bitpay Send. The platform currently supports payments in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), and several stablecoins. This variety allows companies to tailor payout currencies to employee preferences while leveraging the speed and transparency of blockchain networks.
Competing with Bitwage
Bitpay Send enters a market already occupied by services like Bitwage, which also offers crypto payroll infrastructure. Unlike some competitors, Bitpay emphasizes that businesses do not need to hold crypto themselves — they fund payments in fiat, and Bitpay handles the conversion and blockchain transmission, eliminating direct exposure to volatility.
Compliance and KYC
To use Bitpay Send, organizations must provide background information to comply with Know-Your-Customer (KYC) regulations. Bitpay states that all transactions are conducted in accordance with anti-money laundering (AML) rules, ensuring the platform remains legally sound for enterprises of all sizes.
CEO Perspective and Market Impact
Bitpay CEO Stephen Pair commented: “Blockchain payment adoption is growing because it offers an easy way to send and receive payments on a global scale. Traditional international payment methods are cumbersome, costly, and slow. With Bitpay Send, companies can make mass payouts without having to buy, own or manage crypto, and their recipients receive payments quicker and at a lower cost.”
By lowering barriers to entry and enabling instant global settlements, Bitpay Send could accelerate the adoption of cryptocurrencies as a mainstream payroll option — particularly for remote teams and gig economy workers who lack access to traditional banking infrastructure.