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BitPay adds new cryptocurrencies for retail transactions

EditorNatashya Angelica
Published 10/01/2024, 04:20
Updated 10/01/2024, 04:20
© Reuters

ATLANTA - BitPay, a leading cryptocurrency payment service provider, has expanded its digital currency offerings, enabling transactions with several new cryptocurrencies at high-end retailers. The company now supports Uniswap (UNI), Chainlink (LINK), Binance Coin (BNB), and Basic Attention Token (BAT (LON:BATS)), alongside its existing options. This move allows customers to use these currencies at notable retailers such as Gucci and Ralph Lauren (NYSE:RL).

Founded in 2011, BitPay has come a long way from its origins as a Bitcoin-centric platform. Having secured over $70 million in funding from investors, BitPay has broadened its scope to accommodate a diverse range of digital currencies. The CEO, Stephen Pair, has highlighted BitPay's dedication to making crypto payments more accessible globally.

In addition to facilitating purchases at luxury retailers, BitPay's service portfolio caters to substantial transactions, including those for high-value items like cars and homes. Moreover, the company has enhanced its Bill Pay feature to support major banks and auto financiers, reflecting the growing trend of integrating cryptocurrencies into everyday financial activities. This expansion by BitPay underscores the cryptocurrency industry's ongoing efforts to diversify the practical uses of digital currencies in various transactions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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