BitPay Becomes First Virtual Currency Company to Join ETA on August 6

According to the Electronic Transactions Association's press release, BitPay became the first virtual currency company to join the ETA on August 6. The ETA, which represents major payment companies including Visa, MasterCard, Amazon, and PayPal, said it expects "more such partnerships as the payments industry innovates for the future."

In an interview with CoinDesk, ETA CEO Jason Oxman stated that the organization is "open to work with emerging tech startups, including Bitcoin-related companies," noting that the ETA "will not turn a blind eye to innovation." Oxman said support for emerging payment technologies depends on market demand, adding that the industry's core mission is "facilitating electronic transactions" in whatever form customers and merchants agree upon.