While the debate on whether bitcoin will be able to achieve mainstream acceptance continues, BitFury, the leading, fully integrated Bitcoin Blockchain infrastructure provider and transaction processing company, has set an example for the participants of the bitcoin ecosystem.

Business Insider reported that the fintech startup said that it would join Innovate Finance, the independent membership association that represents the UK's global FinTech community, only if it could pay its membership in bitcoin.

"This technology, while having a myriad of other uses, allows users to transfer currency using bitcoin in a secure and fast way. Because of these benefits, BitFury seeks to make payments in bitcoin whenever possible”, a BitFury spokeswoman told Business Insider. "The bitcoin blockchain is receiving increased attention for its potential to secure financial services, so as a member of Innovate Finance, BitFury hopes to bring an understanding of bitcoin and blockchain to the other members and to the fintech industry as a whole."

Founded in 2014, Innovate Finance aims to promote financial technology innovation in the UK. Its founding members include IBM, VISA and MasterCard, among others. The organisation brings together companies from sectors such as insurance, retail and investment banking, payments, crowdfunding, big data, and alternative finance to promote and accelerate growth for the evolution of financial services.

BitFury paid or 37.55 BTC (around £10,000), to join Innovate Finance, and became the first company to pay in digital currency. The company is committed to maintain the transparency of the Bitcoin network and to develop its transaction processing infrastructure with the smallest carbon footprint.

"Given that we are a fintech company - we have to practice what we preach. We agreed under the condition to accept that payment method. We used Coinbase's bitcoin exchange to process the payment. They are one of our most influential members”, an Innovate Finance spokeswoman added.