Ripple’s XRP Has Been Officially Added by Bitpay for Thousands of Merchants

Updated on Jan 31, 2020 at 11:15 am UTC by Teuta Franjkovic · 3 min read
Ripple’s XRP Has Been Officially Added by Bitpay for Thousands of Merchants
Photo: The BitPay Blog

As BitPay officially launched support for XRP, eGifter and CareUSA were announced among the first merchants to accept XRP as a payment method.

In October 2019,  blockchain payment company BitPay announced the support for XRP.  XRP now is the world’s third-largest cryptocurrency by market capitalization. At the time of writing, its market capitalization was $10,295,012,141 and the XRP price was $0.2361 growing by 0.84%.

When talking about BitPay, XRP has been integrated on the company’s platform via Ripple’s open developer platform Xpring. As per the company’s explanation, Xpring is an “initiative by Ripple that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs. Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way.”

At the time, Sean Rolland, Director of Product at BitPay said:

“The addition of XRP as the next blockchain asset supported by BitPay expands blockchain choices across the payments space.”

Ethan Beard, the senior vice president of Xpring noted that the company is “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 problem.”

BitPay now supports a total of seven cryptocurrencies and stablecoins on its platform including Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX).

BitPay also has launched support for XRP and the so-called eGifter and CareUSA among the first retailers that decided to accept XRP as a payment method upon launch.

eGifter is a sort of an innovator in the digital gift card space and was one of the first to start accepting Bitcoin when Bitpay launched several years ago. Xpring company says that it wants to support  BitPay as a partner.

As Coinspeaker has already reported, recently, BitPay decided to expand XRP support. Now XRP owners can use the token to buy anything from any company BitPay works with. For example, they can buy gift cards even for Amazon with XRP.

The interesting thing is that Ripple managed to become one of the best-wanted companies to work for in 2020. Fortune magazine actually included 35 companies in the Bay Area, and Ripple managed to be one of them. It seems that 91% of Ripple’s 235 employees think the company is one of the best places to work.

It’s also worth mentioning that on January 13, 2020, an online marketplace for purchasing and selling gold and precious metals called OneGold, announced a partnership with BitPay.

“Cryptocurrency holders are a natural fit as precious metals investors and can utilize OneGold to balance their investment portfolio. Using BitPay, cryptocurrency holders can quickly buy gold or silver at institutional pricing, save 2%, and create a nice balanced mix of gold, silver, and cryptocurrencies,” noted OneGold CEO Kenneth Lewis.

Altcoins, Blockchain, Cryptocurrency news, FinTech, News
Teuta Franjkovic
Author: Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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