Leading blockchain payments provider, BitPay announced in a press release Monday that its customers will soon be able to safely, and compliantly process payments on Ethereum (ETH).
According to the announcement on Finance Yahoo, businesses can accept and process a purchase on ETH without the need for any integration or enhancements. The move as it is will allow merchants to take advantage of another settlement solution that does not rely on traditional bank wires, and thus promote the adoption of crypto.
“BitPay is consistently at the forefront of using cryptocurrency to solve real-world problems and offer our global customers the best options to accept and pay with multiple blockchain assets,” the CEO of BitPay, Stephen Pair said.
BitPay noted it would allow wallet users to store and use Ethereum in BitPay wallet while individuals holding BitPay’s Prepaid Visa will be able to top-up debit cards.
Given that BitPay before now supported Bitcoin (BTC) and Bitcoin Cash (BCH), offering ETH as a payment mechanism on its platform, according to Stephen, was the “next logical choice.”
While commenting on the development, the founder of Etheruem Vitalik Buterin said:
It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. […] This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real-world use cases for cryptocurrencies.
Noteworthily, BitPay’s decision to announce support for Ethereum has come at a time when the first decentralized application (DApp) platform has come under fire for witnessing little to no development over a lengthy period. Meanwhile, the allegations as Coinfomania reported then is not entirely true despite the project not keeping up with plans to launch version 2.0 early next year.