Cointelegraph Team
Cointelegraph
Controversial cryptocurrency payment processor BitPay has announced it is adding three stablecoins to its list of supported tokens.
In a press release on Dec. 10, BitPay confirmed businesses could now accept payment in USD Coin (USDC), Gemini Dollar (GUSD) and Paxos Standard Token (PAX). All are pegged to the U.S. dollar.
BitPay steers clear of USDT
The rollout brings the total number of available cryptocurrencies to six, alongside Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH).
Notably absent from BitPay’s choice is Tether (USDT), the stablecoin with by far the biggest trading volumes.
“Accepting or paying with stablecoins opens up new possibilities for global businesses that require the stability of the dollar but the security and efficiency of blockchain payments,” CEO Stephen Pair commented in the press release. Pair added:
“Businesses can invoice international customers without the need for costly, complicated cross-border wire transfers. Customers can send and receive payments using fast, efficient, and volatility free dollar-pegged stablecoins.”
Corporate decisions in the spotlight
BitPay has faced sustained criticism over various aspects of its business practices this year. As Cointelegraph reported, seemingly arbitrary rejections of payments to charities ignited a storm on social media, with users claiming that the company’s policy constituted the very centralized censorship that Bitcoin was built to eliminate.
A separate problem stems from BitPay’s lack of compatibility with many major wallets. In September, Bitcoin developers signaled future upgrades to the Bitcoin Core client could remove compatibility altogether.
In October, BitPay announced plans to support altcoin XRP for payments.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015
Shiba Inu's on-chain metrics reveal robust adoption, as addresses with balances surge to 1.4 million. Shiba Inu's returns stand at a solid 14.4% so far in April, poised to snap a three-month bearish trend from earlier this year.
AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program
AI tokens, including Bittensor and Artificial Superintelligence Alliance, climbed this week, with ai16z still extending gains at the time of writing on Friday. The uptick in prices of AI tokens reflects a broader bullish sentiment across the cryptocurrency market.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.
XRP price could renew 25% breakout bid on surging institutional and retail adoption
Ripple price consolidates, trading at $2.18 at the time of writing on Friday, following mid-week gains to $2.30. The rejection from this weekly high led to the price of XRP dropping to the previous day’s low at $2.11, followed by a minor reversal.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.