Atlanta– September 4, 2014, BitPay, the world’s leading bitcoin payment processor, announced today that the MIT COOP is accepting bitcoin as payment. The MIT COOP already offers a bitcoin exchange in its store and now is the first major university bookstore to add the digital currency as a payment method. With the growing interest in bitcoin concentrated on university campuses, the bookstore is paving the way for the growth of bitcoin commerce among students and schools worldwide.
“The MIT COOP is the first campus-based business to respond to this student-led adoption, continuing its reputation as a cooperative by students and for students,” said Jerry Murphy, COOP President. “Once we decided to add bitcoin to our bookstore, we turned to BitPay to make it happen.”
The COOP’s decision to accept bitcoin at its MIT store is symbolic of its commitment to serving a student culture of leaders and thinkers from diverse backgrounds globally. The store has been dedicated since its founding to lowering costs for students and bitcoin’s elimination of credit card transaction fees offers the store a new way of passing on savings. BitPay’s payment processing services and tools allow the COOP to seamlessly integrate bitcoin and receive daily bank settlements. With BitPay’s easy and efficient setup, MIT students can purchase textbooks, supplies and school gear.
“Students are the next generation technology leaders and we expect them to be at the forefront of new technology adoption like bitcoin,” said Tony Gallippi, BitPay’s Co-founder and Executive Chairman. “As MIT and The COOP are two of America’s most historic examples of innovation, the adoption of bitcoin continues this tradition.”
The Harvard Cooperative Society (The COOP) was founded as a cooperative in 1882 and has since grown to include five store locations and an online store, establishing the COOP as one of the largest campus stores in the United States. The MIT Coop is a popular source for student textbooks, student essentials and logo merchandise and is also a destination for visitors to MIT.
The MIT COOP’s bitcoin launch offers the recipients of the MIT Bitcoin Project, $100 in bitcoin to every MIT undergraduate, a place to spend them.
BitPay is a Payment Service Provider (PSP) specializing in eCommerce, B2B, and enterprise solutions for the Bitcoin digital currency.