BitPay, originally a bitcoin payments startup, has added support for “dozens of cryptocurrencies, including Uniswap, Chainlink and BNB, among others.
The company “is committed to making crypto payments easy and accessible for everyone,” Stephen Pair, CEO of BitPay, said in a statement. “These updates and all the newly supported assets mark an invitation to crypto customers: pay for what you need and spend on what you want.”
BitPay customers can currently use their crypto to purchase goods from merchants such as Gucci, Ralph Lauren and AMC Theaters are making car and mortgage payments, the company said in the statement. The company also said it is adding payment support for Cronos and Basic Attention Token, along with “dozens more.”
Making it easier to use crypto
Although BitPay has been around for several years, the company’s move to add support for dozens more cryptocurrencies fits into a broader trend of web3 companies trying to make it easier to access and use tokens other than bitcoin . For example, last year, the bitcoin payment app Strike has added support for Tether’s USDT stablecoin.
BitPay has slowly increased the number of cryptocurrencies the platform supports. At one point in 2020, 90% of payments processed by BitPay’s platform were bitcoin-based. Since its founding in 2011, the Atlanta-based company has raised more than $70 million in funding from companies such as Founders Fund, Index Ventures, Virgin Group and Aquiline Technology Growth.
About the author
RT Watson is a senior reporter at The Block covering a wide range of topics including US-based companies, blockchain gaming and NFTs. Previously, he covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creative economy, while he mainly focused on technological disruption in the media. Previously, he reported on business, economic and political news in Brazil at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, workers, drug traffickers and convicted criminals. Obtained a master’s degree in digital sociology.
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