The largest global blockchain payments provider, Bitpay will soon add the support for the third-largest cryptocurrency, XRP. The announcement comes in a wake of BitPay’s partnership with Ripple’s investment arm, Xrping.
The San-Francisco based Ripple is actively closing the deals of partnership, acquisition, and incubation which are designed to strengthen the XRP ecosystem. Soon after Xpring announced the acquisition deal of the Icelandic engineer team Agrim, the news is now coming out that it has also inked partnership deal with the blockchain payment provider, Bitpay.
Bitpay which is a payment solution provider for various merchants across the world – will be supporting XRP by end of this year. This will allow merchants to accept XRP via Bitpay payment gateway beyond Bitcoin, Bitcoin Cash, Ethereum, and three stablecoin, Circle’s USDC, Gemini’s GUSD and Paxo’s PAX.
Since XRP has been known to settle transactions faster than Bitcoin, Sean Rolland who is the director of product at BitPay said;
“BitPay customers are leveraging the promise of blockchain payment technology and with XRP can offer a payment option that is fast, cost-effective and scalable,” said Sean Rolland. The addition of XRP as the next blockchain asset supported by BitPay expands blockchain choices across the payments space.”
The third-largest cryptocurrency by market capitalization, XRP is surging by 1.16 percent within the past 24Hrs. The token is currently trading at $0.25 against USD, holding the market cap of $10,821,127,867. However, Ripple’s deal with Bitpay likely boost XRP as the payment solution provider effectively settles both fiat and crypto payments in over 200 countries. In fact, Ethan Beard, SVP of Xpring appreciated the deal and said;
“We’re excited to partner with BitPay to enable XRP for its thousands of merchants for everyday purchases and bills. This is key in advancing the proliferation and adoption of XRP as a medium of exchange to help solve real-world problems,”