BitPay Adds Support for Dozens of Cryptocurrencies, Including Uniswap and Chainlink
BitPay, a bitcoin payments startup, has expanded its support to include a wide range of cryptocurrencies, such as Uniswap, Chainlink, and BNB. According to BitPay CEO Stephen Pair, the company aims to make crypto payments accessible and easy for everyone. This update allows customers to use their crypto to purchase goods from various merchants, including Gucci, Ralph Lauren, and AMC Theatres. BitPay also plans to add payment support for Cronos and Basic Attention Token.
Making Crypto More Accessible
BitPay’s decision to support additional cryptocurrencies aligns with the broader trend of web3 companies striving to enhance access and usability of tokens beyond bitcoin. Last year, Strike, a bitcoin payments app, added support for Tether’s USDT stablecoin. BitPay has gradually increased the number of cryptocurrencies it supports over time. In 2020, 90% of the payments processed by BitPay were bitcoin-based. Since its establishment in 2011, the Atlanta-based company has raised over $70 million in funding.
About the Author
RT Watson is a senior reporter at The Block covering various topics such as U.S.-based companies, blockchain gaming, and NFTs. With experience at The Wall Street Journal and Bloomberg, RT has interviewed a wide range of individuals including CEOs, media moguls, politicians, and more.
Hot Take: BitPay Expands Crypto Payment Options
BitPay’s move to include support for numerous cryptocurrencies demonstrates their commitment to making crypto payments more accessible and convenient for users. By expanding payment options beyond just bitcoin, BitPay enables customers to pay for their needs while also indulging in their wants. This development aligns with the growing trend of web3 companies striving to enhance the usability and accessibility of different tokens. With BitPay’s ongoing efforts to add support for more cryptocurrencies, the future of crypto payments looks promising and inclusive.
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