Home Altcoin Bitpay, Ripple partner, makes XRP means of payment

Bitpay, Ripple partner, makes XRP means of payment

Since last year, it has been announced that Atlanta based Bitcoin service provider, Bitpay partnered Ripple. The partnership was to enable XRP payment through “BitPay’s merchant processing and cross-border payments platform.

The XRP payment feature was to be activated in 2019 but did not, however now, it has been confirmed that the integration was just finalized.

Bitpay said in a Blogspot on Tuesday that it is now allowing cryptocurrency consumers to send XRP with BitPay merchants and clients can pay BitPay invoices with a digital asset designed for global payments.

Following this integration, Bitpay now allows seven digital assets as a means of payment. This crypto “makes up roughly 80% of the total market capitalization for all cryptocurrencies.

Reportedly, before Bitpay’s addition of XRP token as a means of payment, eGifter has integrated XRP as a means of payment for buying gift cards. 

We’re excited to add XRP as a payment option on the eGifter platform, and we welcome XRP early adopters in the same way we did those of Bitcoin in 2014 eGifter CEO said after integrating XRP. 

Sean Rolland, the Director of Product at Bitpay, before the XRP activation also remarked that XRP payments are important as they are fast, cost-effective and scalable.

Likewise on behalf of Ripple, Ethan Beard, the Senior Vice President of Xpring, also expressed his excitement, noting that this partnership with Ripple will be key in advancing the proliferation and adoption of XRP as a medium of exchange to help solve real-world problems.

Ripple’s continued success

Despite being entangled in a legal battle with the U.S. Securities and Exchange Commission, Ripple has continued to soar. 

The company has continued to expand launching different payment solutions and other products in different countries likewise partnering other firms to provide improved services. 

Some of Ripple’s recent exploits is its partnership with Siam bank. Ripple is leveraging its partnership with Siam to expand its presence in Asia.

Ripple is also planning massive expansion in Brazil alongside other South American countries. 

On the other side of things, BitBox, the cryptocurrency exchange operated and launched by social media giant LINE, just delisted XRP, specifically the asset’s pairs against Bitcoin, Ethereum, and Tether’s USDT.  As to why this is taking place, the company wrote in the letter:

We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange.

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