BitPay, the world’s largest cryptocurrency service provider, launched a new global mass payments service called BitPay Send that allows gig-economy companies to send crypto payments to multiple recipients simultaneously. "With BitPay Send, companies can make mass payouts without having to buy, own or manage crypto and their recipients receive payments quicker and at a lower cost,” said BitPay CEO Stephen Pair. This service targets international and gig-economy companies looking for a fast, efficient and secure way to send mass payouts using Bitcoin, Ethereum, Litecoin, and other digital currencies. Recipients don’t necessarily need to have a bank account to receive funds if they have a non-custodial BitPay wallet and a free BitPay ID. BitPay Send can settle in native currencies for bank accounts in dozens of countries in 225 countries for a flat 1% fee. All recipients will need to complete a mandatory Know Your Customer (KYC) procedure and have a cryptocurrency wallet. It appears BitPay is trying to compete more directly with crypto payroll services like BitWage and non-crypto payroll services like Gusto. BitPay has raised $72.5 million to date.