BitPay has begun putting the proceeds of its recent $30 million funding round to use, embarking on a hiring spree that sees talent from Visa, PayPal and Jumio join the digital currency startup.
In May BitPay raised $30 million in a series a funding round led by Index Ventures, valuing the company at $160 million. The firm promised to use much of the money to build up its workforce and has now provided an update.
Sonny Singh has been brought in from payment verification firm Jumio as chief commercial officer, where he will be responsible for increasing BitPay's customer base, which currently stands at over 40,000 merchants.
21 year Visa veteran Steve Pratt has also joined as director of business development while Gregg Zigler, who spent 10 years working on PayPal's foreign exchange architecture, arrives as a senior software engineer.
Several more employees have been hired, mainly in San Francisco, taking BitPay's workforce to more than 60.
Explaining his decision to join BitPay, Singh says: "When I looked at the amazing growth rate BitPay has been experiencing, I realised bitcoin is a movement that is going to change e-commerce forever."