Cryptocurrency wallet provider Blockchain.com has announced a partnership with a Bitcoin payment processor, BitPay. Through the partnership, Blockchain.com is expected to incorporate BitPay’s payment technology into its wallet service.
Blockchain.com Users to Get Access to BitPay’s Network
Blockchain.com is currently the world’s most popular Bitcoin wallet provider with over 30 million wallet users across 140 countries. The company, which was founded in 2011, mostly holds Bitcoin APIs in the wallets. BitPay has a global reach of more than 20,000 customers. BitPay’s collection of products enables users to send and receive payments across the border. Equally, it makes it easy for the customer to manage their digital assets and turn the tokens into fiat currency using the BitPay Prepaid Visa Card.
With the integration of BitPay architecture into the wallet service of Blockchain.com, merchants will now be able to make online and mobile payments. They will be able to scan or copy invoices as well as process Bitcoin payment through the wallet app. The partnership also makes it possible for users to provide products and services through an extensive merchant network while at the same time maintaining possession of the private keys.
>> Facebook’s Libra: Coinbase’s Ex-Policy Head Will Lead Lobbying
BitPay Processor Handles Over $1 Billion in Bitcoin Annually
Every year BitPay processes close to $1 billion in Bitcoin for individual clients and businesses, as well as more than $2.8 billion in other digital assets for institutional clients, for over seven years now. The company has created an ecosystem of merchants accepting their payments such as Delta, Amazon, and Hotels.com. The payment processor, besides offering the option of settling payments in fiat currency, can also provide invoices.
Blockchain.com indicated in a statement that it is excited to add BitPay to its wallet because it will connect users to a network of merchants that readily accepts Bitcoin as a payment method. The statement indicated that this was one of the main ways of interacting with and growing the digital asset ecosystem. Blockchain.com’s wallet service, which is noncustodial, provides users with a Know-Your-Customer verification option for those who prefer in-wallet trading capabilities.
Featured image: DepositPhotos © minervastock
Credit Source link