Bitpay adds XRP to its other digital currencies – finally. The partnership with Ripple enables Bitpay to add XRP payment through BitPay’s merchant processing and cross-border payments platform.
The XRP payment feature was to be activated in 2019 but was not, however now, it has been confirmed that the integration was just finalized. Bitpay said in a blog post on Tuesday that it is now allowing cryptocurrency consumers to send XRP with BitPay merchants and clients can pay BitPay invoices with a digital asset designed for global payments.
Bitpay adds XRP formally, completes 80% total market cap
— BitPay (@BitPay) January 21, 2020
Following this integration, Bitpay now allows seven digital assets as a means of payment. XRP’s adoption alongside these other cryptos “makes up roughly 80% of the total market capitalization for all cryptocurrencies”. Reportedly, before Bitpay added XRP token as a means of payment, eGifter has integrated XRP as a means of payment for buying gift cards.
eGifter CEO said after integrating XRP:
We’re excited to add XRP as a payment option on the eGifter platform, and we welcome XRP early adopters in the same way we did those of Bitcoin in 2014.
Sean Rolland, the Director of Product at Bitpay, before the XRP activation also remarked that XRP payments are important as they are fast, cost-effective and scalable.
Likewise on behalf of Ripple, Ethan Beard, the Senior Vice President of Xpring, also expressed his excitement, noting that this partnership with XRP will be key in advancing the proliferation and adoption of XRP as a medium of exchange to help solve real-world problems.
Ripple’s continued success
Despite being entangled in a legal battle with the U.S. Securities and Exchange Commission, Ripple has continued to soar. The company has continued to expand launching different payment solutions and other products in different countries likewise partnering with other firms to provide improved services.
One of Ripple’s recent exploits is its partnership with Siam bank. Ripple is leveraging its partnership with Siam to expand its presence in Asia. Ripple is also planning a massive expansion in Brazil alongside other South American countries.
On the contrary, BitBox, the cryptocurrency exchange operated and launched by social media giant LINE, just delisted XRP, specifically the asset’s pairs against Bitcoin, Ethereum, and Tether’s USDT. As to why this is taking place, the company wrote in the letter:
We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange.