BitPay Adds Gemini Dollar (GUSD) and Circle CENTRE USD Coin (USDC) for Settlements
BitPay Offers Settlement For Gemini Dollar (GUSD) And Circle CENTRE Coin
The Bitcoin and blockchain payment provider BitPay. BitPay has decided to announce today that merchants can now settle their payments using two new stablecoins which were recently released in the market: Gemini Dollar (GUSD) and CENTRE USD Coin (USDC). Both these stablecoins are pegged to the value of the USD and were launched to be alternatives to Tether.
Now, merchants that use this payment solution will be provided with the option to accept this two tokens when they accept Bitcoin (BTC) or Bitcoin Cash (BCH) from the company. Before that, the merchants were only able to be paid in Bitcoin, so they could not use the solution is they were worried about the volatility linked to this financial asset.
With a non-volatile settlement solution that does not rely on traditional bank wires is an easy option and it is supported in 190 countries. It enables merchants worldwide to receive international payments in an easy that is faster than other traditional means like bank wires are.
This way, the customers can use this solution to avoid the costly bank transfers and reduce fraud at the same time. The company used to only accept payments in Bitcoin, and it will still do it, however, the different is that now the merchants will be able to receive in a more stable currency, which can be an advantage for them and will reduce friction, cost and time spent doing business.
Users will also be able to receive in bank transfers if they are really not keen on receiving cryptos. The transfers are generally settled in the following day.