BitPay is turning to the payments stablecoin to address the volatility of crypto-currencies

December 15, 2019 by Antoine

The processor of payment in virtual currencies BitPay has recently created a new support payment in stablecoin. It now supports the Circle’s USDC Corner (USDC), the Gemini Dollar (GUSD) and the Paxos Standard (PAX).

Additional options for the users

Consumers around the world have now the opportunity to make payments in stablecoins via the USDC, PAX and GUSD recently added to the app wallets digital BitPay.
They are free to spend the assets backing the dollar in the shops Microsoft, among Avnet, and at over 30,000 other shops associated with BitPay. Users can also transfer funds almost immediately to their loved ones.
According to Stephen Pair, the co-founder and CEO of BitPay, the use of stablecoins is a window of opportunity for companies who are looking for the stability of the dollar in the business. They ensure the security and efficiency of payments with the technology of the big registry distributed (DLT).

“The companies can charge their customers international without having recourse to cross-border credit transfers costly and complex. Customers can send and receive payments using stablecoins, fast, efficient, and without volatility, ” said Pair.

Also, merchants will be advantaged through transactions that are affordable, transparent and with more speed. For their part, consumers will be protected against the oscillations of the price of crypto-currencies.

BitPay and Ripple to new partners ?

While BitPay already supports payments in Bitcoin (BTC), in Ethereum (ETH) and in Bitcoin Cash (BCH), the company plans to add support for Ripple (XRP), as an extension to the development programme Ripple Xpring.
Launched in 2011, the company has processed more than one billion dollars in 2018. She was able to collect 70 million dollars approximately, from Peter Thiel’s Founders Fund, Nimble Ventures and the Virgin Group.
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Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.