[Techtaffy Newsdesk]

Bitcoin payment processing company BitPay has expanded its seed round of funding by adding more angel investors, including Ben Davenport, Trace Mayer, and A-GRade Investments.

Anthony Gallippi (Co-founder and CEO, BitPay): Once companies realize that credit cards were designed in the 1950s, suddenly they can see all the waste, fraud, risk, and cost that they incur trying to use the technology in a card-not-present situation. Credit cards were never designed for the Internet! 

BitPay now has over 3,200 merchants using its platform to accept bitcoin payments. The company has processed over $3.3 million in bitcoin payments for its merchants.

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