BitPay adds new cryptos to its app:
- BitPay adds several cryptocurrencies, including BNB, Chainlink, and Uniswap, for payments.
- Customers can now pay for luxury goods and bills.
- The platform aims to facilitate access and use of cryptocurrencies for everyday purchases.
Adding Cryptocurrencies to BitPay
BitPay, a cryptocurrency payment app that allows the purchase of goods (e.g., gift cards) in crypto, has announced the addition of support for numerous cryptocurrencies, including BNB, Chainlink (LINK), and Uniswap (UNI).
This initiative, according to BitPay CEO Stephen Pair, is a step towards facilitating crypto payments.
“These updates and all newly supported assets are an invitation to crypto customers: pay for what you need and indulge in what you want.”
– said Stephen Pair
BitPay customers can now use these cryptocurrencies for a variety of purchases, ranging from luxury products from merchants like Gucci and Ralph Lauren to more common payments such as car bills or mortgages.
BitPay’s expansion in supporting various cryptocurrencies is part of a broader trend among Web3 companies to make accessing and using tokens other than Bitcoin easier.
Last year, Bitcoin payment app Strike, for example, added support for Tether’s USDT stablecoin. In 2020, 90% of payments processed by BitPay were based on Bitcoin, but since its establishment in 2011, the company has significantly diversified its offerings.
With over $70 million raised from investors like Founders Fund and Index Ventures, BitPay positions itself as a leader in the field of cryptocurrency payments, making crypto transactions not only possible but also convenient for everyday use.