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BitPay, one of the world’s largest service providers for cryptocurrency payments, has announced support for Ethereum, the second-largest cryptocurrency by market cap, and is exploring support for XRP and Litecoin, the third and fifth-largest cryptocurrencies.
Currently the platform allows merchants, consumers and clients to send and receive Bitcoin and Bitcoin Cash as a payment option.
Businesses using BitPay will be able to accept Ethereum for purchases without the need for any integration. Wallet users will also be able to store and use Ethereum in a BitPay wallet, and BitPay Prepaid Visa Card holders can top up debit cards.
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Says Ethereum creator Vitalik Buterin,
“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.”
BitPay also offers stablecoin settlement with Circle CENTRE USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard token (PAX) as well as in 12 currencies and direct bank deposit in 37 countries.
Along with Ethereum, BitPay CEO Stephen Pair has confirmed with Cryptonews that the company is now evaluating XRP and Litecoin as potential additions to the platform.
Pair says the process of on-boarding new cryptocurrencies entails examining several aspects.
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“We will be looking closely at network hashing power, security, usefulness for payments, adoption, and market value as key factors in our decisions on which blockchain payments our platform will support.
In addition, we’re listening to customer feedback as we build our payment tools to support additional blockchains.”
BitPay reported over $1 billion in transactions in 2018. In addition to law firms, data center providers and IT vendors, the company’s list of customers includes Dish Networks, HackerOne and the State of Ohio.
The crypto payments provider also reported that its B2B business had a record year, growing 255% from the previous year.
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