Bitcoin Commerce by the Numbers
Funding, merchant data and infrastructure: the data behind Bitcoin’s real economy.
What a range of stories in this edition - from a big bet on Bitcoin in gaming, to a behind-the-scenes look at merchant adoption in South Africa.
All the best stories in Bitcoin Commerce are here - and don’t miss the analysis below!
The BTCMap annual review is packed with data on real-world Bitcoin adoption
Steak ‘n Shake doubles down on Bitcoin - buying up $10M USD worth of Bitcoin to support a bitcoin-powered business improvement cycle
BTCPay Server, the go-to software for integrating Bitcoin payments into e-commerce and retail businesses, publishes their 2025 Progress Report
Startup ZBD raises $40 M to bring Bitcoin into the world of gaming
Blink Wallet goes in-depth on the tech behind Bitcoin’s growing merchant adoption in South Africa
Looking for a laugh? Check out our Bitcoin meme of the week at the back of the Roundup! 😁
Find it all here, and thanks from the Velas Team!
Bitcoin Commerce in 2025 by the Numbers
BTCMap just published their annual review and it’s loaded with stats on real-world Bitcoin adoption.
They are calling 2025 “the year that merchant adoption really began to accelerate.” And they have the numbers to prove it.
59% Increase in Bitcoin-accepting locations
50% Increase in locations recently verified
65% Increase in merchant adoption
The list of top 10 countries when ranked by merchant editing is interesting too. The USA came in number one by a huge margin. Likely, this was due, at least in part, to the reported integration of BTCMap with Square point of sale terminals that now allow USA merchants to accept Bitcoin.
Brazil and South Africa come in second and third, respectively. Checking out the map, both nations seem to have a well-distributed geographic mix, with large concentrations around the principal cities.
BTCMap is also keeping a real time stats dashboard which could be worth a bookmark.
Check out the annual report and stats dashboard here:
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Steak n’ Shake Doubles Down on Bitcoin Success
USA fast food chain Steak n’ Shake continues to demonstrate just how successful a thoughtful and performant Bitcoin integration can be.
The company just added a $ 10 million USD bitcoin purchase in an effort to create a “self-reinforcing cycle” I.e. revenue from their Bitcoin helps to fund improvements to the business overall.
Recent falling prices will put strategies like these to the test so watch this space.
More Adoption, More Tech, and More Integrations for BTCPay
The BTCPay Server annual report features some key advancements that promise to help keep its place as a key tool for Bitcoin Commerce.
On the new feature front, the software now supports subscriptions paid with Bitcoin, expanded integrations into popular e-commerce platforms like Shopify and ECWID, and an impressive set of adoption metrics from businesses around the world.
Here’s a few that stuck out to us:
Namecheap processed a record $ 2 million USD Bitcoin payment with BTCPay
Unbank topped $ 40 million in BTC payments in 6 months
The Las Vegas Bitcoin convention set a Guiness World Record for one-day bitcoin payments with BTCPay
And the future looks bright. Plugins are being developed for some of the most cutting edge tech in Bitcoin payments including Cashu, Ark and Boltz.
Find out more in the annual report here:
https://blog.btcpayserver.org/2025-report/
ZBD, Bitcoin-Focused Gaming Startup, Raises $40M
ZBD just raised $ 40M USD in a round led by Blockstream Capital.
It’s a big bet on the success of the combination of Bitcoin payments and video gaming, and another example of how resilient funding has been for Bitcoin-focused startups.
Peer-to-peer, rewards and tournament payments make video gaming a natural fit into Bitcoin Commerce.
ZBD, along with THNDR Games, have been early pioneers in the space, and we are going to be watching closely to see what their next moves are.
Lots more on the raise here:
https://bitcoinmagazine.com/news/bitcoin-payments-startup-zbd-raises-40m
Behind the Scenes of South African Bitcoin Adoption
We’re finishing up this edition with a behind-the-scenes look at Bitcoin adoption in South Africa. This interview between Blink Wallet and Ben Blaine with Moneybadger.
South Africa has been quietly trailblazing in Bitcoin adoption:
“If you go into a shop, there is a very high probability that you can pay with Bitcoin there, thanks to these integrations.”
It’s not just talk, Moneybadger, Pick n’ Pay, and the circular economy Bitcoin Ekasi seem to have found the perfect combination of community and tech and the results are really showing.
We can’t do this behind-the-scenes summary justice in this short writeup. Check it out here for an inspiring look at the future of Bitcoin Commerce:
https://www.blink.sv/blog/moneybadger-and-blink-hyperbitcoinize-south-africa-through-qr-payments
And our Bitcoin Commerce meme of the week.............🥁🥁🥁🥁🥁🥁
🎊 What can you build with Bitcoin
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