BitPay allows customers to pay for goods and bills with BNB, Chainlink and others
Quick Take
- BitPay is making it possible for customers to use tokens like Uniswap and Chainlink if they want to purchase goods or pay bills.
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 all,” BitPay CEO Stephen Pair said in a statement. "These updates and all of the newly supported assets mark an invitation to crypto customers: pay for what you need and splurge on what you want."
BitPay customers are currently able to use their crypto to purchase goods from merchants like Gucci, Ralph Lauren and AMC Theatres or make 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, in addition to "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. As an example, last year, the bitcoin payments app Strike added support for Tether’s USDT stablecoin.
BitPay has slowly been adding to the number of cryptocurrencies the platform supports. At one point in 2020, 90% of the 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 firms like Founders Fund, Index Ventures, Virgin Group and Aquiline Technology Growth.
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