Cryptocurrency payment services, BitPay has joined the Crypto Open Patent Alliance (COPA) to share open-source projects and use a shared patent library. Founded by Jack Dorsey’s Square, COPA believes open access to patents on cryptocurrency is necessary for the industry to grow, innovate, and build new products.
BitPay Joins Crypto Open Patent Alliance
BitPay, cryptocurrency payment services has announced a partnership with the Crypto Open Patent Alliance (COPA). Founded by Jack Dorsey-led payment company, Square last September, COPA encourages the adoption of cryptocurrency technologies and advocates for the removal of patents to foster innovation and growth.
COPA’s open patent strategy allows anyone to join and benefit from the alliance, regardless of whether they have access to patents or not.
By providing an open patent library, COPA removes obstacles towards cryptocurrency technological innovation.
Kirupa Pushparaj, COPA Board Chair, said:
“We want to eliminate barriers to innovation, rather than letting patents become one, and welcome BitPay and their many contributions to the blockchain and payments space.”
COPA is a non-profit community formed to encourage the adoption and advancement of cryptocurrency technologies and to remove patents as a barrier to growth and innovation. The non-profit acknowledges that crypto is built on the collaborative efforts of a community made up of developers, engineers, and designers.
Providing Cross-Border Solutions Using Cryptocurrencies
BitPay enables cross-border payments using cryptocurrencies such as BTC, ETH, ECH, DOGE, and stablecoins like USDC, PAX, BUSD, and GUSD. The payment processor also provides a digital asset management solution in the BitPay Wallet, also available through a BitPay Prepaid Mastercard that allows users to pay with cryptocurrencies at merchant stores.
In the announcement release, Stephen Pair, CEO of BitPay, said:
“BitPay is partnering with and supporting COPA because we believe that the blockchain space is at an inflection point where crypto is becoming mainstream, forever changing the way businesses and consumers receive and spend funds.”
The crypto payment services company reduces the cost of payment processing, eliminates transaction fraud, and allows borderless payments using cryptocurrencies. Its digital asset management solution enables consumers to turn their digital assets into U.S. dollars.