Specialist global provider of Bitcoin and cryptocurrency payment services BitPay has confirmed a partnership with the Crypto Open Patent Alliance (COPA), as the collaboration embraces open-source projects and uses a shared patent library.
In securing the partnership, COPA outlined its belief that open access to patents and freedom from threats on foundational cryptocurrency technologies is necessary for the industry to grow, innovate, and build new products.
Stephen Pair, CEO of BitPay, commented: “BitPay is partnering with and supporting COPA because we believe that the blockchain space is at an inflection point where crypto is becoming mainstream forever changing the way businesses and consumers receive and spend funds.
“We see both business and consumer adoption accelerating as a result of COPA industry leaders working together to advance technology innovation making the blockchain easy to use for both businesses and consumers.”
COPA is a non-profit community formed to encourage and cater to the adoption and advancement of cryptocurrency technologies and to remove patents as a barrier to growth and innovation.
“We want to eliminate barriers to innovation, rather than letting patents become one, and welcome BitPay and their many contributions to the blockchain and payments space,” said Kirupa Pushparaj, COPA Board Chair.
The link comes at a time when businesses and consumers are faced with major challenges when transacting cross borders. So, BitPay pioneered blockchain payment processing to enable borderless payments using cryptocurrencies like BTC, BCH, ETH, DOGE and stablecoins USDC, GUSD, PAX and BUSD.
BitPay’s business solutions looks to eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency. BitPay also offers consumers a complete digital asset management solution that includes the BitPay Wallet app and BitPay Prepaid Mastercard, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses.