Peer-to-peer digital asset marketplace Paxful has launched a new e-commerce tool to allow businesses worldwide to receive bitcoin (BTC, +2.52%) payments.

  • Paxful Pay exchanges customers' payments from over 400 different methods into bitcoin, which is then sent to the merchant's digital wallet, an announcement Thursday said.

  • Other digital currencies are expected to be made available in due course. Paxful plans to introduce automatic conversion into stablecoins like tether (USDT, +0.12%) as well.

  • "There is a clear need to offer local options for bitcoin and this product is a culmination of our efforts to deliver on that demand," co-founder of Paxul Ray Youssef said.

  • The New York-based firm previously rolled out a crypto debit card, which enables users to convert bitcoin into fiat currency at the time of purchase.

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