BitPay Introduces Bill Pay Service for Crypto Wallets
Crypto payment gateway BitPay has launched a new service called Bill Pay, which allows users to pay their everyday bills directly from their crypto wallets. With this new feature, BitPay users will have access to over 5,000 service providers, including car payments, mortgages, personal loans, and credit cards. The service is embedded into BitPay’s self-custody wallet, making it convenient for customers to make payments without involving banks or other financial institutions. Initially, the payment solution will be available in 19 states, including Florida, New Jersey, and Washington. BitPay CEO Stephen Pair believes that this service will be a game changer for the industry and a monumental step for unbanked communities.
Shiba Inu (SHIB) Card Payments Enabled Through BitPay Partnership
BitPay has partnered with Sardine to enable Shiba Inu (SHIB) card payments in over 180 countries. This collaboration allows SHIB holders to spend up to $3,000 worth of SHIB daily on various purchases. As a result of these new use cases, the price of SHIB has increased by 10% in the last 24 hours, with a total gain of 20.39% over the past seven days according to CoinGecko data.
Hot Take: BitPay’s Bill Pay Service Expands Crypto Adoption
BitPay’s introduction of the Bill Pay service is a significant development for crypto users. By allowing users to pay their everyday bills directly from their crypto wallets, BitPay is removing the need for traditional financial institutions. This is especially beneficial for unbanked communities who can now access financial services without relying on banks. Additionally, the partnership with Sardine to enable SHIB card payments further expands the use cases for cryptocurrencies. These developments are likely to contribute to the wider adoption of cryptocurrencies as a mainstream payment method.
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