TL;DR Breakdown:
- United States mobile payment app, Slide has launched support for cryptocurrencies with BitPay.
- This will allow the users to pay for items purchased using Bitcoin, Ether, and other cryptocurrencies and stablecoins.
Digital currencies are seemingly becoming an unavoidable option for mobile payment services, as awareness and adoption continue to increase. In recent months, the leading digital payment platform, PayPal rolled out support for customers to buy and sell digital currencies. Today, a Chicago-based mobile payment app, Slide, said it added support for payments with crypto, following a partnership with BitPay, a cryptocurrency payment processor.
US mobile payment apps are accepting crypto
Per the announcement, the mobile payment app will support digital currencies like Bitcoin (BTC), Ether (ETH), Ripple (XRP), and Bitcoin Cash (BCH), including four US dollar-backed stablecoins – USD Coin (USDC), Gemini USD (GUSD), Paxful Standard (PAX), and Binance USD (BUSD). On this support, Slide brings crypto to approximately 100,000 stores around the country, enabling many people to pay with cryptos for their purchases.
While commenting on the development, the CCO at Bitpay, Sonny Singh, said:
“Crypto offers merchants like Slide a huge opportunity to attract new customers and sales, and with the recent run-up in the value of Bitcoin, we are expecting a significant jump in spending for the holiday season as it’s a great time to add crypto as a payment option.”
PayPal, Square allows access to crypto
Square Inc. is a crypto-friendly company that has since been supporting digital currencies through its mobile payment application, Cash App. Although Cash App allows buying and selling Bitcoin, it records massive BTC transaction volume, according to the investors’ letter by Square. In recent weeks, PayPal rolled out support for crypto in the United States, allowing customers in the country to buying and selling Bitcoin, Ether, and other coins, directly from its platform.
The payment company also records huge demand for Bitcoin, as it was spotted buying a massive amount of Bitcoin recently.
