BitPay Announces Ethereum Support for Merchants

Payment solution BitPay will soon provide support for ethereum, the second-biggest digital currency by market capitalization, as indicated by an announcement from the company on September 16. With BitPay, registered businesses will have the option to acknowledge payments in bitcoinbitcoin cash, and ether, alongside a bunch of stablecoins.

Established in 2011, BitPay now settles both fiat and crypto payments in more than 200 nations.

Talking on the expansion, ethereum co-founder and maker Vitalik Buterin said it was 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,” he proceeded.

The firm said it regularly surveys potential digital forms of money for expansion.

“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.”

Narrowing it down, BitPay CEO Stephen Pair stated ethereum was the next coherent decision because of its existing market base. “As one of the largest cryptocurrencies by market cap and one used by thousands of companies, Ethereum is the next logical choice,” he said.

A week ago, the Hong Kong Free Press (HKFP) asserted BitPay was holding up bitcoin donations to the association. A non-profit news association, the HKFP has been covering the present civil unrest in the Chinese city. An official reply from BitPay has yet to be released concerning the claims.