BitPay adds support for stablecoins USDC, GUSD and PAX

BitPay cryptocurrency operator added support for stablecoins USD Coin (USDC), Gemini Dollar (GUSD) and Paxos Standard Token (PAX).

Now users of the service, including such giants as Microsoft and Avnet, will be able to receive payments from their customers in the above stablecoins.

“Thanks to this decision, business representatives can not resort to the help of expensive and complex cross-border bank transfers, but instead invoice customers in stablecoins, which are free from volatility risks, and are also a more effective tool due to quick and cheap transactions,” commented the general BitPay Director Stephen Pair.

According to Joshua Rawlins, Managing Director of Financial Operations, Gemini, sellers will be interested in fast, cheap and secure payments from various fraudulent activities, and customers will be able to experience all the advantages of cryptocurrencies without fear for their volatility.

Prior to the listing of stablecoins, BitPay provided the ability to make payments using bitcoin, bitcoin and ether. In addition to these cryptocurrencies, the company also plans to add rip. She announced these plans after concluding an agreement with Ripple Xpring.

BitPay was founded back in 2011. Over the entire period of its existence, it has attracted investments worth more than $ 70 million. Among the main investors are the Founders Fund, Nimble Ventures and the Virgin Group. Over the past year, BitPay has processed payments totaling more than $ 1 billion.