The crypto payments service BitPay is launching new support for XRP
Blockchain payment provider BitPay will add support for XRP, the world’s third-largest crypto by market capitalization. XRP will soon be available on the BitPay payment platform. For example, U.S. residents will be able to buy gift cards with XRP, the Ripple ecosystem’s cryptocurrency, through BitPay. Gift cards can then be used in the largest retailers in the US. The news came to light through a message from BitPpay founder Tony Gallippi.
BitPay co-founder Tony Gallippi confirmed that users would be able to purchase gift cards with XRP starting next week. Gallippi forwarded the news, first discovered by a group of XRP enthusiasts.
Thank you, @TonyGallippi!
— Tiffany Hayden? (@haydentiff) January 18, 2020
The gift cards provide cryptocurrency holders an easy way to spend their digital assets at a long list of major retailers and restaurants, including Amazon, DoorDash, Domino, Burger King, GameStop, and Home Depot.
BitPay is a payment processor that processes payments in bitcoin, bitcoin cash, ethereum, and Ripple’s XRP. The platform can convert these payments into stablecoins like USD Coin and Gemini Dollar, but also in 150 different currencies in 200 different countries. BitPay processes about $ 1 billion in cryptocurrency payments annually.
BitPay will support XRP announced in October 2019. BitPay said it has partnered with the Ripple unit from Xpring to integrate XRP on its platform so that businesses and merchants can accept cryptocurrencies.
The extent of XRP will be available on the BitPay platform from next week, is still unclear. However, the ultimate goal is that thousands of businessmen in 200 different countries will soon be able to accept XRP for payments besides supported cryptocurrencies.
BitPay’s product manager, Sean Rolland, said the speed and scalability of XRP makes it different from most crypto assets on the market. Sean Rolland can offer fast, cost-effective, and scalable payment options.
With the cooperation, users of BitPay wallets, as well as its prepaid cardholders, will also be able to store and spend XRP through their merchants and businesses.
“BitPay customers are taking advantage of the promise of blockchain payment technology and with XRP can offer fast, cost-effective, and scalable payment options. The addition of XRP as the next blockchain asset supported by BitPay will expand blockchain options on the payment space”.
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