With Bitcoin becoming a more viable internet currency, more and more mainstream payment execs are making the shift from FIAT based payment firms to smaller BTC and Alt-coin startups.
Until recently Bitcoin along with other digital currencies was considered a niche subject for those in the know. Bitcoin was designed as a payment option with its own built in payment network. Companies like BitPay, CoinBase, and BIPS came along to simplify the transaction process by offering merchant services to those willing to take the plunge into the world of Bitcoin. The merchants accepting Bitcoin grew from small obscure companies to now large firms like Overstock.com and TigerDirect.
Now, with large firms and companies beginning to accept the cryptocurrency as a viable payment method, we are seeing a move from high level executives who long have been a staple in the payment industry to smaller Bitcoin processors.
One of the more recent moves by such execs is Visa’s former senior business development leader in the merchant sales and solutions group Andy Goldstein. Goldstein left the card giant after a 16 year run to join Atlanta-based BTC processor BitPay.
"The Bitcoin space offered technology innovation, flexibility and creativity. When I was pondering the move, I gave it careful consideration; I soon realized that I would forever regret not taking a risk and trying to participate to grow Bitcoin acceptance," said Goldstein.
Just recently we saw Former Lemon founder Wences Casares make the shift from standard wallets and Payments to Bitcoin with his new startup Xapo. Other examples include Ripple founder Chris Larsen who served as the CEO of Prosper Marketplace and E-Loan.
With heavy hitters in the payment industry not only taking notice to Bitcoin but also taking action, the future seems bright for the crypto currency.
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