BitPay Confirms Upcoming Support for Ethereum Payments
- BitPay’s wallet users will be able to store Ether while BitPay Prepaid Visa Card holders can top up debit cards.

Crypto Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term provider BitPay today confirmed it is on the cusp of adding support for Ethereum (ETH) payments to simplify for their merchants the adoption of multiple cryptocurrencies as payments for goods and services.
Announced today, the move will give BitPay clients the ability to conduct and settle transactions using the second most valuable cryptocurrency. BitPay’s wallet users, in particular, will be able to benefit from the ability to store and use Ethereum in their wallets while BitPay Prepaid Visa Cardholders can top-up debit cards.
Why Ethereum?
The company explained three factors which played a role in their decision to add Ethereum. BitPay said the step to support ether came as their merchants, cardholders, and wallet users have a special eagerness for its coin and tokens to be used for real-world commerce. In addition, Ethereum has the largest community outside of Bitcoin.
"Third, by supporting payments on the Ethereum network, BitPay will be soon able to support ERC-20 tokens, namely, stablecoins,” it further states.
BitPay has been expanding non-volatile settlement solutions for its clients who can use it to cash out of digital assets more quickly than if they were to convert to dollars. On the merchant side, Bitpay has always allowed clients to settle in Bitcoin and Bitcoin Cash, but the firm has recently added options to settle in multiple stablecoins, including Circle USDC and Gemini Dollar.
BitPay was also granted a so-called Virtual Currency License by the New York State Department of Financial Services (NYDFS), which allows the company to set up merchant accounts to accept cryptocurrency payments.
Speaking about the new options, BitPay CEO Stephen Pair said: “BitPay is consistently at the forefront of using cryptocurrency to solve real-world problems and offer our global customers the best options to accept and pay with multiple blockchain assets. As one of the largest crypto currencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.”
"It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies," added Vitalik Buterin, founder and creator of Ethereum.
Crypto Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term provider BitPay today confirmed it is on the cusp of adding support for Ethereum (ETH) payments to simplify for their merchants the adoption of multiple cryptocurrencies as payments for goods and services.
Announced today, the move will give BitPay clients the ability to conduct and settle transactions using the second most valuable cryptocurrency. BitPay’s wallet users, in particular, will be able to benefit from the ability to store and use Ethereum in their wallets while BitPay Prepaid Visa Cardholders can top-up debit cards.
Why Ethereum?
The company explained three factors which played a role in their decision to add Ethereum. BitPay said the step to support ether came as their merchants, cardholders, and wallet users have a special eagerness for its coin and tokens to be used for real-world commerce. In addition, Ethereum has the largest community outside of Bitcoin.
"Third, by supporting payments on the Ethereum network, BitPay will be soon able to support ERC-20 tokens, namely, stablecoins,” it further states.
BitPay has been expanding non-volatile settlement solutions for its clients who can use it to cash out of digital assets more quickly than if they were to convert to dollars. On the merchant side, Bitpay has always allowed clients to settle in Bitcoin and Bitcoin Cash, but the firm has recently added options to settle in multiple stablecoins, including Circle USDC and Gemini Dollar.
BitPay was also granted a so-called Virtual Currency License by the New York State Department of Financial Services (NYDFS), which allows the company to set up merchant accounts to accept cryptocurrency payments.
Speaking about the new options, BitPay CEO Stephen Pair said: “BitPay is consistently at the forefront of using cryptocurrency to solve real-world problems and offer our global customers the best options to accept and pay with multiple blockchain assets. As one of the largest crypto currencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.”
"It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies," added Vitalik Buterin, founder and creator of Ethereum.