Big News for Stable Coins: BitPay Announces Support for Merchant Settlement
Today, the cryptocurrency payment company Bitpay has announced that the company is now supporting settlement options for two stable coins, Gemini dollar and Circle Centre coin. Now, with that news, Bitpay users will be able to use these two stable coins as well as Bitcoin Cash, Bitcoin and local fiat.
Stable coins have been in the discussions for quite a long time. Authorities say that this is a big news for stable coin industry; as it is perfect for their adoption and use cases. For the announcement, Bitpay co-founder and CEO Stephen Pair said:
Bitpay was founded to make payments faster, more secure, and less expensive using Bitcoin for organizations around the world.”
This now means an increased adoption for stable coins. After the company used Bitcoin and Bitcoin Cash, this is perfect news for Gemini dollar and Circle Centre coin. These two coins have recently caught the attention of cryptocurrency investors because they are regulated and the company behind them are pretty huge.
BitPay CEO Stephen Pair also added:
Customers can skip costly, complicated cross-border wire transfers and receive or send international payments with Bitpay with accuracy, reduced fraud risk and quick bank settlement.”
According to Bitpay and other authorities, regions like South America, Africa, Asia Pasific region and European countries will benefit from that. Bitpay’s services pretty fast and secure compared to traditional bank systems. People can send these two stable coins on 7/24 basis starting from today and this is a huge plus for the entire stable coin industry.
Currently, after Tether’s drop, stable coins are pretty on the agenda. After True USD, Paxos and Gemini Dollar experienced increases, the industry is pretty excited towards cryptocurrencies.
Bitpay set to announce themselves as a great payment option and these two stable coin support means they are pretty strong and set to use heavily across all of the payment transactions.