BitPay users will be able to accept Ethereum for payments, store Ethereum in a BitPay wallet and get access to Ethereum on BitPay prepaid Visa cards.
BitPay, one of the leading companies in the sphere of crypto payments, has announced support for Ethereum, which means that companies using BitPay for payment processing can now accept Ethereum for purchases.
— BitPay (@BitPay) September 16, 2019
Stephen Pair, BitPay CEO, commented:
“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.”
“BitPay regularly evaluates blockchains and cryptocurrencies to support the company’s goals of making it easy to send and receive payments for goods and services globally. We selected ethereum as it has broad support for real-world applications and is widely adopted.”
Ethereum will become one of BitPay’s payment mechanisms along with Bitcoin (BTC) and Bitcoin Cash (BCH). What is more, BitPay users will be able to store Ethereum in a BitPay wallet and get access to Ethereum on BitPay prepaid Visa cards.
Ethereum co-founder Vitalik Buterin commented:
“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.”
Established in 2011, BitPay is the largest Bitcoin payment service provider headquartered in Atlanta, Georgia, United States. BitPay products enable businesses to send and receive cross border payments, also allowing consumers to manage digital assets with the BitPay Wallet and turn digital assets into dollars.
BitPay has offices in North America, Europe, and South America and has raised over $70 million from leading investors including Founders Fund, Index Ventures, and Aquiline Technology Growth. Among its customers are such companies as Microsoft, Newegg, Dish Networks, FanDuel, Takeaway, Virgin Galactic, and Avnet.
Along with Bitcoin and Bitcoin Cash, BitPay offers stablecoin settlement with USD Coin, Gemini Dollar, and Paxos Standard token with support for 12 currencies and direct bank deposits to 37 countries.
Last year, BitPay received a virtual currency license, or ‘BitLicense’, from the New York State Department of Financial Services (DFS) and became the eighth company allowed to send and receive cryptocurrency payments from other businesses and lets license-holders securely store digital assets and issue a new digital currency.
In August, BitPay was chosen by the U.S. telecom giant AT&T for accepting bill payments in cryptocurrencies. The company has also partnered with the Bitcoin wallet and blockchain explorer provider Blockchain, Inc.
With support for Ethereum, the number of BitPay customers will definitely increase. For Ethereum, it will help in achieving its goal as a widely-accepted currency.