Online cryptocurrency payment processor BitPay just sent out an alert announcing that merchants can now accept Bitcoin Cash. The company cited low transaction fees as one of its main reasons for adopting the relatively new cryptocurrency.
“Today we’re happy to announce that BitPay merchants can now accept payments in Bitcoin Cash (BCH). It’s now easy for BitPay merchants to do business with a growing, passionate community of Bitcoin Cash users and accept a currency with a market cap of more than $15 billion.
… And since Bitcoin Cash costs only pennies (or less) for customers to send, it’s great for BitPay merchants who want to accept blockchain micro-transactions for things like video games, food delivery, or app downloads.”
BitPay says it’s also working to allow settlements on its platform using Bitcoin Cash.
The company has reported rapid growth in recent months and says it’s on pace to process over $1 billion a year, with its merchants now earning more than $110 million worth of payments per month. In Asia, BitPay’s partnership with AsiaPay now processes payments from Nike and Tesla. The company also operates in Europe, South America, and recently made headlines for processing real estate transactions in the US.
As for the king of crypto, Bitcoin, developers are pushing a fast rollout of the Lightning Network. The new off-chain solution is designed to dramatically lower the cost of Bitcoin transactions and trigger a big increase in speed.