Bitpay allows merchants to receive settlements GUSD and USDC

According to an announcement on Monday, Bitpay, US-based cryptocurrency payment processor has allowed its merchants to receive settlements in Gemini Dollars (GUSD) and Circle USD Coin (USDC) since Bitpay has started accepting stablecoins. Bitpay has a customer base of 20,000 businesses globally and provides payment services with Bitcoin (BTC) and Bitcoin Cash (BCH) Both the stable coins are results by Gemini and Circle to represent real US dollar holdings as a token on blockchains. A 1:1 ratio will be the value of both of these coins pegged to the value of the US Dollar, so holders don’t fear or risk value change or price volatility. They can redeem these coins directly for US Dollars through Gemini and Circle accounts. “Because GUSD and USDC tokens exist on borderless blockchains, BitPay can now settle these US-dollar pegged stable coins to merchants, wherever they are in the world — even if they don’t have bank accounts. And since each GUSD and USDC stable coin is tied to one US dollar, there is no volatility risk for the business receiving the settlement,” said the blog post. According to an earlier report by BC Focus, BitPay has integrated with Big Tickets to allow customers to reserve their spots for a multitude of events using virtual currency. Another BC Focus report states that Gemini has added Litecoin as a fourth digital asset to be available on the platform alongside Bitcoin, Zcash, and Ether. Circle, on the other hand, has signed a definitive agreement to acquire SeedInvest, an equity crowdfunding industry leader and an SEC and FINRA registered broker-dealer, according to a BC Focus report See Also: BitPay to aid HackerOne in sending and receiving Bitcoin payments Bitpay, Bitcoin.com and Copay wallets removed from Google Play Store Image via Shutterstock Join our Telegram group