Prior to the announcement, BitPay conducted an internal survey to receive feedback from its employees regarding their work-from-home setup since March. Interestingly, most of the respondents said that they experienced more productivity and that they have a more work-life balance due to the setup.
This is also backed up by data provided by BitPay last July, wherein it was able to process its all-time high of about 110,000 transactions in the said month alone. This was one month after they released the Mastercard-branded BitPay debit card in the US.
According to the data, US consumers preferred to use Bitcoin for their transactions, and that they used the said cryptocurrency as a means of payment.
As such, BitPay has formally decided to move its operations to the Internet, including its offices in Argentina and Amsterdam.
BitPay CEO Stephen Pair said that they were “closely following the coronavirus” and that they were able to “immediately recognize its significance”.
At first, the company had to get adjusted to various long-distance communication arsenal. After a while, Pair said that the executive team began to implement a virtual plan to enable them to continue business as usual.
”The work from home policy worked out well, so we turned to cyberspace for continued work.”
Aside from issuing the Mastercard-branded debit card, BitPay was also able to sign up new customers and partner with crypto exchanges like Binance. All of these happened since the company started its work-from-home operations in March due to the COVID19 pandemic.