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BitPay Inc. said Tuesday it will start adding dozens of cryptocurrencies to its platform this week in a move that includes a revamp of the company’s payments service. The Atlanta-based company, which has been processing crypto-based payments for more than 10 years, said it will start supporting more than 100 digital currencies beyond those it has historically processed.
The bevy of new coins comes as the company finishes an update to its platform that includes a refreshed invoice design and automatic display of balances held, Bitpay said. The company’s site lists more than 250 companies and stores that are now accepting cryptocurrency.
Among the additional coins Bitpay said it will now process are Uniswap, Binance Coin, Chainlink, Cronos, and Basic Attention Token (BAT). While well-known cryptocurrencies like Bitcoin and Ethereum, as well as stablecoins such as Tether, have dominated crypto payments for years, the universe of available coins exceeds 8,000, according to rankings by Coinmarketcap. Among major merchants Bitpay supports are Newegg, Jomashop, PacSun, Ralph Lauren, and AMC Theaters.
With the scores of added coins and its platform refresh, Bitpay says it hopes to make crypto payments easier and more accessible. “These updates and all of the newly supported assets mark an invitation to crypto customers, pay for what you need and splurge on what you want,” said chief executive Stephen Pair, in a statement.
BitPay has long worked to expand the range of companies accepting cryptocurrency. In a recent move, the company in August added a capability that allows its wallet holders to pay bills at more than 5,000 billers. It enlisted the services of embedded-banking services provider Method Financial to support that move. A year earlier, the company added a cash-back rewards program to encourage transactions on its prepaid card, which users can back with crypto assets.
