WASHINGTON, DC--(Marketwired - Jun 19, 2014) - [Bitcoin in the Beltway Conference] -- BitPay, the world leader in business solutions for the Bitcoin digital currency, and CoinVox, the leading Bitcoin services firm for political organizations, partner to offer an all-in-one solution for political candidates, political action committees and political organizations who want to accept donations in bitcoin. The integration enables political groups to securely accept bitcoin contributions and easily stay compliant with all relevant campaign finance regulations.
"Some of BitPay's first customers were political candidates and a national party. With their extensive experience in dealing with political contributions, partnering with BitPay was the best option for CoinVox," said Christopher David, CEO of CoinVox.
BitPay has worked hard to ensure that any political campaign accepting bitcoin donations can be completely compliant with campaign finance laws. Using the BitPay-CoinVox integrated service, a campaign is able to create a button for the donation webpage which transfers the bitcoin donation as well as collects the donor's name, address, and email address. The campaigns also have the option of choosing to collect higher dollar amounts and program the button to collect additional information required by law. The real-time exchange rates are recorded and logged for each transaction. Funds are settled daily via direct bank deposit, so campaigns accepting bitcoin receive all of the same reports and bank settlement information that would be received from a credit card processor.
"Politicos benefit from joint teams who have expertise and understand the needs of candidates and campaign treasurers, as well as service partners, legal advisors, consulting and support as does CoinVox," said Tony Gallippi, BitPay's co-founder and Executive Chairman.
The strategic partnership between BitPay and CoinVox gives campaigns a market-leading bitcoin payment processing solution coupled with access to top Bitcoin political consultants and compliance experts. Legal leadership and counsel on crypto issues is being provided by international law firm Perkins Coie. The partnership allows CoinVox to expand beyond the midterm elections and into international politics and causes, bringing Bitcoin's benefits of transparency and security to governing institutions around the world.
"A BitPay-CoinVox partnership is another step to give a voice to all people who want to support a cause, candidate, committee or party. Because the Bitcoin blockchain provides a transaction history, political Bitcoin donations bring greater transparency to the political process," said Elizabeth Ploshay, account manager at BitPay and Bitcoin Foundation board member.
Those interested in signing up for CoinVox or learning more can do so at http://coinvox.org.
CoinVox is a digital currency services firm offering the first nonpartisan Bitcoin donation platform for political organizations. CoinVox also provides technical support and consulting services to help political and nonprofit organizations connect to the digital currency economy. For more information, please visit http://coinvox.org.
BitPay is a Payment Service Provider (PSP) specializing in eCommerce, B2B, and enterprise solutions for the Bitcoin digital currency.