BitPay, a blockchain payments provider, today announced a partnership with Ripple’s developer initiative, Xpring, that will allow businesses to accept XRP for payments through BitPay’s merchant processing and cross-border payments platform safely, securely, and compliantly, starting by the end of the year.
BitPay Wallet and BitPay Prepaid Cardholders can also store and spend XRP through BitPay merchants and businesses. XRP is the 3rd largest cryptocurrency with a market cap of more than $20 billion.
“BitPay customers are leveraging the promise of blockchain payment technology and with XRP can offer a payment option that is fast, cost-effective and scalable. The addition of XRP as the next blockchain asset supported by BitPay expands blockchain choices across the payments space.”
– Sean Rolland, Director of Product at BitPay
Ripple’s vision is to build the Internet of Value, allowing value to be exchanged as quickly as information does on the internet. This vision drives everything Ripple does, from building its global payments network, RippleNet, to establishing initiatives like the University Blockchain Research Initiative and Xpring.
Xpring was launched in 2018 to help build utility around XRP, and to grow the XRP ecosystem. Since then the company has partnered with more than 20 companies and committed more than $500 million in support of blockchain companies and products.
BitPay Wallet will also integrate with Xpring’s newly launched developer platform, which makes it easier for developers of any kind to integrate money into their business.
“We’re excited to partner with BitPay to enable XRP for its thousands of merchants for everyday purchases and bills. This is key in advancing the proliferation and adoption of XRP as a medium of exchange to help solve real-world problems.”
– Ethan Beard, SVP of Xpring
BitPay will now offer XRP as a payment mechanism along with Bitcoin, Bitcoin Cash, and Ethereum. BitPay also offers stable coin settlement with Circle CENTRE USD//Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX) as well as in 12 currencies and direct bank deposit in 37 countries.