As cryptocurrencies continue gaining mainstream attention, some of the industry’s native companies have also joined the spotlight. Bitcoin payment processing company BitPay joined the ranks of 499 other important technology companies today.
Big Four accounting firm Deloitte sees BitPay as one of North America’s top 500 leading-edge technology outfits, as shown by its Technology Fast 500 list, BitPay announced in a public statement on Wednesday. BitPay sits in 341st position, beating social media powerhouse Pinterest, which holds the 348th spot.
“The ranking is compiled based on submitted applications and public company database research, with winners selected based on percentage fiscal-year growth over a three-year period,” according to Deloitte’s website.
Arrowhead Pharmaceuticals ranks first among the prestigious group, showing a tremendous 106,508% growth. At 341, BitPay boasts 290% growth. Media streaming device provider Roku sits further down the slate in 483rd position.
“In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual technology that is sold to customers in products to a majority of the company’s operating revenues,” the statement said.
“Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million,” the statement added.
“Additionally, companies must be in business for a minimum of four years and be headquartered within North America.”
On Wednesday, continuing its growth, BitPay announced further avenues for companies looking to harness crypto payments.