BitPay adds Dai and WBTC as payment options for businesses

Friday 7 May 2021 12:05 CET | News

BitPay, a provider of Bitcoin and cryptocurrency payment services, has announced it is adding Dai and WBTC for businesses to accept as a payment option.

Dai is a decentralised dollar-pegged token and WBTC is an ERC20 token backed one to one with Bitcoin. Settlement in Dai and WBTC is expected to be available starting from May 2021. Dai and WBTC are available to anyone, accessible anywhere in the world.

The ability to transact in Dai is ideal for global businesses and cross-border merchants that are looking to attract new customers. MakerDAO’s Dai stablecoin, built on the Ethereum network and underpinned by a system of smart contracts and decentralised price feeds, is designed to maintain a soft peg to the US Dollar. Similarly, the ability to transact in WBTC brings Bitcoin to Ethereum enabling blockchain traders, institutions, and DApps a bridge to the Ethereum network while maintaining exposure to Bitcoin. Its price is pegged to the price of Bitcoin, with the additional benefit of being usable in Ethereum’s DeFi space.

Dai and WBTC are added to BitPay’s current list of supported tokens including BTC, BCH, ETH, DOGE and stablecoins USDC, GUSD, PAX and BUSD. BitPay previously announced wallet users can store and use Dai and WBTC in a BitPay wallet and to load the BitPay Card.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: stablecoin, Bitcoin, merchants, cryptocurrency, Token, Ethereum
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3