BitPay Will Soon Support Payments from the Ethereum Blockchain

(UPDATE: BitPay now supports Ethereum)

BitPay will shortly start supporting the Ethereum blockchain.That means you will be able to use your ether (ETH or Ξ) to:

Meet Ethereum

Ethereum started with Vitalik Buterin and his goal of creating a decentralized, global computer. Today, anyone can build smart contracts on top of the Ethereum blockchain. These smart contracts are similar to traditional contracts but instead of needing a third party, these smart contracts rely on logic and code to run.

BitPay Will Soon Support Payments from the Ethereum Blockchain

Source: Ethereum Foundation’s Twitter. Be sure to follow them!

This allows for applications of all kinds. They can be as cute and fun as CryptoKitties and as serious as a FINCEN regulated digital asset. As Vitalik Buterin put it:

“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.”

Why Ethereum?

In addition to the exciting potential of smart contracts, BitPay chose to support blockchain payments on the Ethereum network for three main reasons:

First and foremost, many of our merchants, cardholders, and wallet users have been asking for this. Second, Ethereum has the second highest market share behind Bitcoin. Third, by supporting payments on the Ethereum network, BitPay will be soon able to support ERC-20 tokens, namely, stablecoins.

BitPay Will Soon Support Payments from the Ethereum Blockchain

We’ve already talked about the benefits we see with stablecoins when we began to allow our merchants to settle in GUSD, USDC, and PAX. You can read more about that here.

Want to be the first to know when Ethereum acceptance goes live? Follow us on Twitter or like us on Facebook to stay in the loop on BitPay news and updates.

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