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Cryptocurrency payment services provider BitPay will soon add support for ethereum, the second-largest cryptocurrency by market capitalization.
As per an announcement, customers will be able to securely and compliantly accept the cryptocurrency in the coming weeks. The launch will also enable wallet users to store ether in their BitPay wallets and allow BitPay Prepaid Visa Cardholders to add to their debit cards.
Stephen Pair, BitPay CEO, said that the new integration was the “next logical choice” for the company.
“It is 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,” Vitalik Buterin, Ethereum co-founder, said.
With the latest move, ether is the new payment mechanism offering of BitPay along with Bitcoin and Bitcoin Cash. The company also supports stablecoin settlement with Circle CENTRE USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX) as well as 12 currencies and direct bank deposit in select countries.
Businesses that use BitPay for payment processing, including Microsoft, Newegg, Dish Networks, FanDuel and Avnet, can accept ether without having to set up any enhancements. They will also be allowed to process cross-border transactions.
The company told CoinDesk that it “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.”
Ether will go live soon, but a specific date is yet to be announced.
Just last month, Bitcoin wallet and blockchain explorer provider Blockchain announced that it will integrate BitPay’s payment architecture into its wallet service. The move will allow Blockchain users to copy or scan invoices and conduct a Bitcoin payment completely via Blockchain Wallet.
