Blockchain payment provider BitPay deploys more stablecoins to its system. Now users can pay in PAX, USDC, and GUSD.
Today, BitPay announced that additional coins are accepted for transactions on the platform. Accordingly, these include Circle’s USD Coin (USDC), the Gemini Dollar (GUSD) and Paxos Standard Token (PAX).
“Accepting or paying with stablecoins opens up new possibilities for global businesses that require the stability of the dollar but the security and efficiency of blockchain payments,” said Stephen Pair, BitPay’s CEO, and co-founder. “Businesses can invoice international customers without the need for costly, complicated cross-border wire transfers. Customers can send and receive payments using fast, efficient, and volatility free dollar-pegged stablecoins.”
Joshua Rawlins, Managing Director of Financial Operations at Gemini warmly greeted the initiative.
“The pairing of crypto payment acceptance with a stablecoin like the Gemini dollar — which combines the creditworthiness and price stability of the U.S. dollar with blockchain technology — is powerful,’’ he noted.
Approval is also expressed by Paxos: “By using PAX to make everyday payments through BitPay, customers send USD quickly and retailers get paid immediately. Using PAX in payment and settlement is a crucial step forward. The customers can now spend their PAX with more than 30,000 BitPay merchants around the world.”
BitPay is based in Atlanta, the US. The platform started its operations in 2011 and has achieved a total transaction volume of $ 1 billion. It provides the option of crypto payments and converts them to fiat currency. And the service allows you to send invoices by email or install plugins for online shopping platforms like Magento, WooCommerce, OpenCart, and others.
BitPay also provides an API for embedding in custom e-commerce services. And by integrating trading systems through an API gateway, you can easily accept payment in Bitcoin in almost any online service.
Besides, the company offers BitPay Wallet and Prepaid Visa Card to its users.