The popular Bitcoin payment service Bitpay has announced that it will be offering a ‘multi-cryptocurrency settlement’ for Bitpay merchants.
Founded back in May 2011, BitPay is a bitcoin payment service provider headquartered in Atlanta, Georgia, United States. It was founded by Tony Gallippi and Stephen Pair. The platform provides Bitcoin and Bitcoin Cash payment processing services for merchants.
Post the current announcement, Bitpay merchants will be able to pay and settle their accounts in Bitcoin, Bitcoin Cash, and three stablecoins, FUSD, USDC, and PAX.
This feature was being anticipated by people in the market for a quite some time now. Going beyond just Bitcoin and the three stablecoins, to add BCH to the list can really help Bitpay’s popularity grow. They shared the following message on their blog:
Now we’re happy to share a new improvement: merchants can receive their BitPay settlements in up to five of these cryptocurrencies at once, in addition to their supported local currency.
Bipay’s merchants could previously just pay using Bitcoin and three stablecoins, namely FUSD, USDC, and PAX. The market is aware of the rate at which the popularity of Bitcoin Cash is on the rise. The digital currency is leading the race between itself and Bitcoin Satoshi Vision, and has possibility of further growth in the future.
Hence, with the addition of BCH to the list of cryptos accepted, Bitpay has demonstrated its commitment to keep up with the times.
This addition of BCH to the list is however not a recent news. It was previously announced by Bitpay itself back in August of 2018. The company released an official statement saying:
We’ve been hard at work to deliver this new settlement option and close the payments loop for merchants serving Bitcoin Cash customers.
This multi cryptocurrency setllement option will allow merchants to have a plethora of options to choose from when they are settling their payments.
The platform has already started receiving requests from the community of crypto enthusiasts to add other different cryptocurrencies to the list.