BitPay adds support for XRP

Cryptocurrency • January 22, 2020, 1:15AM EST
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Blockchain payments processor BitPay has added support for XRP, the world’s third-largest cryptocurrency by market capitalization.

XRP has been integrated on BitPay's platform via Ripple’s open developer platform, Xpring. The two companies first partnered on the initiative in October. At the time, Sean Rolland, BitPay’s director of product, said that XRP can offer a payment option that is “fast, cost-effective and scalable.”

Now that the XRP support is live, BitPay’s supported merchants, such as Microsoft and Dish Networks, can accept the cryptocurrency from customers. However, the first two merchants to accept XRP upon launch are - digital gift cards provider eGifter and humanitarian aid organization CareUSA.

With XRP's addition, BitPay now supports a total of seven cryptocurrencies and stablecoins on its platform - bitcoin (BTC), ether (ETH), XRP, bitcoin cash (BCH), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX).

BitPay said the seven digital assets make up almost 80% of the total market capitalization for all cryptocurrencies. Founded in 2011, U.S.-based BitPay processed over $1 billion in crypto payments in both 2017 and 2018.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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