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This picture taken on April 7, 2017 shows a man walking past a signboard informing customers that Bitcoin can be used for payment at a store in Tokyo. Frenchman Mark Karpeles, former CEO of collapsed Bitcoin exchange MtGox, heads to trial in Tokyo on July 11, 2017 on charges stemming from the disappearance of hundreds of millions of dollars worth of the virtual currency from its digital vaults. / AFP PHOTO / Toru YAMANAKA (Photo credit should read TORU YAMANAKA/AFP/Getty Images)

Bitcoin, Ethereum and Ripple continue to make headlines for their worst first-quarter price performances in history. Conversely,&nbsp;BitPay – the largest global blockchain payment provider – just closed $40 Million in its extended Series B funding round.

While many of the top cryptocurrencies are down in the dumps, BitPay has raised a total of over $70 Million in capital and processed over $1 Billion in Bitcoin Payments in 2017 .

BitPay’s CEO, Stephen Pair, announced in apress release that one of the company’s future goals is to expand into emerging markets in Asia, which is also one of BitPay’s fastest growing regions for cryptocurrency transactions and wallet adoption.

“Bitcoin is increasingly popular in Asia-Pacific and we see huge potential for cross-border payments. Using the Bitcoin network, we can enable businesses to have invoices paid in one day for a fee that is less than traditional banks. We also see huge growth in wallet adoption for consumers who are now looking to spend Bitcoin for purchases,” Pair told me.

And despite the price of Bitcoin dropping,Menlo Ventures – whose portfolio includes companies like Uber, Warby Parker and Roku – still decided to invest in BitPay’s Series B round. This was also its first institutional cryptocurrency investment.

“We gravitated towards BitPay because we felt the company had identified a killer use for cryptocurrency in facilitating low cost payment solutions for cross-border commerce and business-to-business payments, which is a massive market poorly served by the existing payment rails,” said Tyler Sosin, a partner at Menlo Ventures.

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This picture taken on April 7, 2017 shows a man walking past a signboard informing customers that Bitcoin can be used for payment at a store in Tokyo. Frenchman Mark Karpeles, former CEO of collapsed Bitcoin exchange MtGox, heads to trial in Tokyo on July 11, 2017 on charges stemming from the disappearance of hundreds of millions of dollars worth of the virtual currency from its digital vaults. / AFP PHOTO / Toru YAMANAKA (Photo credit should read TORU YAMANAKA/AFP/Getty Images)

Bitcoin, Ethereum and Ripple continue to make headlines for their worst first-quarter price performances in history. Conversely, BitPay – the largest global blockchain payment provider – just closed $40 Million in its extended Series B funding round.

While many of the top cryptocurrencies are down in the dumps, BitPay has raised a total of over $70 Million in capital and processed over $1 Billion in Bitcoin Payments in 2017 .

BitPay’s CEO, Stephen Pair, announced in apress release that one of the company’s future goals is to expand into emerging markets in Asia, which is also one of BitPay’s fastest growing regions for cryptocurrency transactions and wallet adoption.

“Bitcoin is increasingly popular in Asia-Pacific and we see huge potential for cross-border payments. Using the Bitcoin network, we can enable businesses to have invoices paid in one day for a fee that is less than traditional banks. We also see huge growth in wallet adoption for consumers who are now looking to spend Bitcoin for purchases,” Pair told me.

And despite the price of Bitcoin dropping,Menlo Ventures – whose portfolio includes companies like Uber, Warby Parker and Roku – still decided to invest in BitPay’s Series B round. This was also its first institutional cryptocurrency investment.

“We gravitated towards BitPay because we felt the company had identified a killer use for cryptocurrency in facilitating low cost payment solutions for cross-border commerce and business-to-business payments, which is a massive market poorly served by the existing payment rails,” said Tyler Sosin, a partner at Menlo Ventures.

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