BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced that it has enhanced its service to make it easier for Coinbase users to spend crypto including USD Coin, Bitcoin, Ethereum and other cryptocurrencies at BitPay enabled merchants directly from a Coinbase account. BitPay’s enhancements allow consumers to make payments directly from the Coinbase account to BitPay merchants, eliminating the peer to peer movement of funds. The phased rollout starts with transactions under $1,000. Also, in one month, users will be able to pay BitPay merchants with their Coinbase account directly from within their BitPay Wallet App.
“Customers who have a Coinbase account are looking for a fast, secure and easy way to pay for goods and services with crypto globally now have additional options through BitPay enabled merchants,” said Sean Rolland, Director of Product at BitPay. “Integration between Coinbase and BitPay lets users pay directly from their Coinbase account, opening up new global businesses opportunities to accept and pay with crypto.”
The Coinbase integration is a popular feature and has been part of the BitPay Wallet App since the early beginnings. In one month, this enhanced integration will improve the experience and gives users the option to monitor and manage all funds in the BitPay Wallet App, no matter where the funds are stored. The improved Coinbase integration also shows the funds exactly as they are in the Coinbase platform.
Both of these integrations enable consumers and businesses the ability to spend USDC, a U.S. dollar-pegged currency at businesses around the world. Stablecoins continue to see dramatic growth within the cross-border payments sector. Users can also pay with Bitcoin, Bitcoin Cash, XRP and ETH.
The USD Coin combines the efficiencies of a cryptocurrency with the added benefit of being tied to the stability of the U.S. dollar. As cryptocurrencies, stablecoin transactions are verified by a decentralized network and recorded on an immutable public ledger, providing transparency and eliminating traditional payment fraud associated with credit cards. Because its value is pegged to fiat currency, however, stablecoins eliminate the volatility associated with other cryptocurrencies.
Source : Businesswire