A small processor of Internet-only currency is moving to Atlanta.
BitPay, which processes the online Bitcoin currency, has just two employees, but plans to hire several developers as it builds out its business. CEO Tony Gallippi said BitPay processes the bulk of Bitcoin sales, including to web sites like WordPress. The Bitcoin currency floats against other currencies; one Bitcoin was worth about $13.55 Monday.
The founders of the year-old payments company are both graduates of Georgia Tech.
Gallippi said the move, which comes with $510,000 in funding, was in part to take advantage of Atlanta’s reputation as a hub for payment processing.
“These companies see activity going on,” said Tino Mantella, the president and CEO of the Technology Association of Georgia. “I think they’re in the right spot for this.”
Georgia has more than 90 financial technology companies with 25,000 employees here.
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