Monday , June 27, 2022

Eye On Crypto: BitPay Waives Card Fees for Crypto Purchases, Humbl Adds an ACH Integration

To make cryptocurrency more accessible to the general public, BitPay Inc. on Tuesday announced a limited-time promotion with Simplex, a fiat-to-cryptocurrency gateway, to waive fees when BitPay wallet users purchase crypto using a credit or debit card. BitPay wallet users can buy the currency using the BitPay debit card or Apple Pay. The promotion is available to consumers in the United States.

In addition to being able to purchase cryptocurrency through the BitPay Wallet app, wallet users can send and receive crypto, check its price, and store funds. Users can also purchase gift cards from hundreds of retailers in store and online with Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Shiba Inu, and Wrapped Bitcoin, as well as five USD-pegged stable coins: BUSD, DAI, GUSD, USDP, and USDC. BitPay Wallet users can also open and fund an account with Simplex Banking, which enables local payment methods. 

“For those consumers in the U.S. who want to try out crypto for the first time, this is a straightforward way to purchase, store, and spend crypto through the BitPay Wallet app integration with Simplex,” BitPay chief executive Stephen Pair says in a prepared statement. “BitPay wants to help consumers start to live life on crypto, and by working with Simplex, we make it simple to acquire crypto by eliminating the need for users to navigate to a cryptocurrency exchange to fund the wallet.”

Simplex is a financial institution that offers a variety of payment methods while supporting cryptocurrency purchases.

In related news, consumer blockchain company Humbl Inc. has added an ACH integration to its Humbl Pay mobile wallet. The feature enables wallet users to load funds so they can buy and send up to 20 different digital assets while earning interest up to 7% on those holdings.

“We see two major unlocks ahead for global blockchain adoption: One is simplifying blockchain use cases for consumers, and the other is connecting traditional financial institution accounts to mobile wallets like Humbl,” the company’s president and chief executive, Brian Foote, says in a prepared statement. “The ACH integration feature is a positive step forward in both areas.”

Looking ahead, Humbl has several additional features in development for its mobile wallet, including the addition of other digital assets.

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