Rajarshi Mitra
Independent Analyst
- BitPay wallet users can store and use Ether while BitPay Prepaid Visa Card holders can top-up debit cards.
- BitPay assured that it will soon be able to support ERC-20 stablecoins.
BitPay, a well-known crypto payments provider, confirmed that it will be adding support for Ethereum (ETH) payments soon. This is expected to help merchants by simplifying the process of adopting multiple cryptocurrencies as payment for goods and services. BitPay enables cryptocurrency acceptance by monitoring, validating and confirming client transactions on each blockchain.
This latest move will allow BitPay clients to transact using Ethereum. BitPay’s wallet users will be enabled to store and use Ether in their wallets while BitPay Prepaid Visa Card holders can top-up debit cards. As per BitPay, they chose Ether as their retailers, cardholders and wallet users have a particular eagerness for its coin and tokens to be used for real-world financial transactions. Moreover, outside of Bitcoin, Ethereum has the largest community.
The firm added:
“By supporting payments on the Ethereum network, BitPay will be soon able to support ERC-20 tokens, namely, stablecoins.”
On the merchant side, BitPay has always allowed its clients to transact in Bitcoin and Bitcoin Cash. Recently, it has added options to settle in multiple stablecoins, including Circle USDC and Gemini Dollar.
Stephen Pair, CEO of BitPay, said:
“BitPay is consistently at the forefront of using cryptocurrency to solve real-world problems and offer our global customers the best options to accept and pay with multiple blockchain assets. As one of the largest cryptocurrencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.”
Vitalik Buterin, founder and creator of Ethereum, said:
“It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real-world use cases for cryptocurrencies.”
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