BitPay Launches Support for Ethereum Payments

BitPay, the largest global blockchain payments provider, has announced it is expanding support to Ethereum blockchain. It will thus allow merchants to accept the network’s currency, Ether, globally.

BitPay’s customers can soon accept Ethereum safely, securely, and compliantly. The businesses that use BitPay for payment processing can accept Ethereum for purchases. It will require no integration or enhancements. Also, wallet users can store and use Ethereum in a BitPay wallet and get access to Ether on BitPay prepaid Visa cards. Stephen Pair, the CEO of BitPay said the company stands out from the rest for using crypto to solve real-world issues and offers a customer the best and safest payment options. Since Ethereum is one of the largest cryptocurrencies by market cap, it is the most logical choice to add.

Initially, BitPay processed payments with Bitcoin and Bitcoin Cash. Also, it offers stablecoin settlement with USD Coin, Gemini Dollar, and Paxos Standard token with support for 12 currencies and direct bank deposits to 37 countries. The company has offices located in North America, Europe, and South America. It has raised over $70 million from leading investors including Founders Fund, Index Ventures, and Aquiline Technology Growth.

Last month, the cryptocurrency payment processor company had announced the introduction of new identity verification measures. It applies for certain high-value payments, refunds, and payouts as per the source.