Digital asset transaction platform, Bitpay, has won the Frost & Sullivan Company of the Year Award in the alternative payments category.
"Bitpay is a true industry leader, delivering best practices in growth, innovation, and leadership," David Frigstad, Frost & Sullivan's chairman, said in a June 23 statement.
Frost & Sullivan is a notable market research company over 50 years old.
Bitpay facilitates payment in Bitcoin
Founded in 2011, Bitpay paved the way for businesses to accept Bitcoin as a form of payment. Operating in 164 countries, Bitpay has integrated with more than 20,000 companies, according to Cointelegraph's Bitpay profile.
Bitpay blazed a trail for crypto payments, giving the industry real-world application before any of its competitors. This helped push the platform to the top of the award candidates, according to Frigstad.
Bitpay allows greater customer reach
Bitpay gives companies a wider door for accepting customer payments globally, the statement said of Frost & Sullivans findings. The platform also houses automatic bitcoin and cash conversion, depending on user preference.
The payment processor is also mindful of regulation, and hosts strong leadership, according to Frost & Sullivan in the statement.
"It's an honor to be considered among the world's top payment companies and to be named Company of the Year," Stephen Pair, Bitpay CEO, said in the statement, noting the company also looks toward adding additional merchants in 2020.
Cointelegraph reached out to Bitpay for comment, but did not receive a response prior to publication. We will update this story as necessary.