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BitPay to Include Support for XRP This Year

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BitPay

BitPay

Over the course of the past few years, plenty of innovative companies have come up, and one of the more interesting ones in this regard has been BitPay. The company is a blockchain payment provider and is regarded among the more innovative companies in the crypto ecosystem.

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In a new development, BitPay announced that it is going to provide support for XRP payments by the end of 2019. It is a significant development not only for the company itself but also for XRP, which is currently the third-biggest cryptocurrency in the world by market cap.

As everyone knows, the ultimate aim of most cryptocurrencies is to be accepted as a regular payment and make a dent in the dominance enjoyed by fiat currencies. To that end, this is a major development for XRP, which has fashioned itself as a payments solutions provider for institutions as well as for individuals. According to the revelations made by the company to a leading crypto news website, BitPay has actually partnered with Xpring, a product created by Ripple, and it is going to use it to complete the integration of XRP to its platform. The director of product at the company, Sean Rolland, stated, “XRP can offer a payment option that is fast, cost-effective and scalable.”

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One of the more important things to come out of this development is the realization that XRP is not only meant for institutions and large banks but also for individuals who wish to make fast payments. BitPay has grown significantly over the course of the past few years, and last year alone, the company processed as much as $1 billion worth of payments.

It is an indication that payments through cryptocurrencies are catching on at last, and it is only a matter of time before it becomes far more widespread throughout the world. In September, BitPay added support for Ethereum as well.

Featured image: DepositPhotos © burdun

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Blockchain.com Partners with Payment Processor BitPay

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BitPay

BitPay

Cryptocurrency wallet provider Blockchain.com has announced a partnership with a Bitcoin payment processor, BitPay. Through the partnership, Blockchain.com is expected to incorporate BitPay’s payment technology into its wallet service.

Blockchain.com Users to Get Access to BitPay’s Network

Blockchain.com is currently the world’s most popular Bitcoin wallet provider with over 30 million wallet users across 140 countries. The company, which was founded in 2011, mostly holds Bitcoin APIs in the wallets. BitPay has a global reach of more than 20,000 customers. BitPay’s collection of products enables users to send and receive payments across the border. Equally, it makes it easy for the customer to manage their digital assets and turn the tokens into fiat currency using the BitPay Prepaid Visa Card.

With the integration of BitPay architecture into the wallet service of Blockchain.com, merchants will now be able to make online and mobile payments. They will be able to scan or copy invoices as well as process Bitcoin payment through the wallet app. The partnership also makes it possible for users to provide products and services through an extensive merchant network while at the same time maintaining possession of the private keys.

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BitPay Processor Handles Over $1 Billion in Bitcoin Annually

Every year BitPay processes close to $1 billion in Bitcoin for individual clients and businesses, as well as more than $2.8 billion in other digital assets for institutional clients, for over seven years now. The company has created an ecosystem of merchants accepting their payments such as Delta, Amazon, and Hotels.com. The payment processor, besides offering the option of settling payments in fiat currency, can also provide invoices.

Blockchain.com indicated in a statement that it is excited to add BitPay to its wallet because it will connect users to a network of merchants that readily accepts Bitcoin as a payment method. The statement indicated that this was one of the main ways of interacting with and growing the digital asset ecosystem. Blockchain.com’s wallet service, which is noncustodial, provides users with a Know-Your-Customer verification option for those who prefer in-wallet trading capabilities.

Featured image: DepositPhotos © minervastock

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