BitPay is one of the world’s largest bitcoin payment processors. The company serves thousands of retailers all over the world and has gained a lot of positive attention throughout the years. The company added a new member to their board of directors, in the form of Carl Stern. Shaping the future of BitPay’s business plans is a top priority, and Carl Stern seems to be the right man for the job.
Carl Stern Joins The BitPay Board of Directors
After working many years with The Boston Consulting Group, Carl Stern has plenty of experience when it comes to developing competitive strategies for businesses. Moreover, he is also well-versed in shaping corporate portfolios. Albeit BitPay is active in what some people would call a “niche market”, the success of the company has not gone by unnoticed by any means.
It is evident BitPay expects a fruitful year in 2017 and early 2018. Similarly to most other bitcoin companies in the world, BitPay plans to expand their presence on a global scale this year. In fact, the company is eyeing accelerated growth for this year, which may hint at a positive marketing campaign to get more merchants to accept bitcoin payments moving forward. If they are successful in this regard, it can only mean positive things will happen for cryptocurrency as a whole.
Carl Stern’s primary role will be to guide BitPay where executive decisions have to be made, primarily in the investment, hiring, and business partnership areas. This would indicate BitPay may start hiring additional staff once again after the company went through a rough patch throughout 2016. In fact, BitPay shut down their “free” merchant plan and decided to revamp their business model slightly. It is good to see things may start to look up again, as BitPay is an integral part of the bitcoin ecosystem, after all.
BitPay CEO Stephen Pair commented as follows:
“Given Carl’s expertise and experience, we look forward to his contributions as a member of our board of directors. As we continue to form partnerships in the financial world, Carl’s perspective and insight will add great value in helping to guide BitPay in the years ahead.”
It remains a bit unclear what BitPay’s exact plans are, but rest assured more information will become available as time progresses. Things are looking up, and the company has a certain plan waiting to be executed throughout 2017. It will be interesting to see what the company will come up, and how Carl Stern will help shape the future of BitPay moving forward.
Header image courtesy of BitPay