United States-based e-commerce platform Shop.com is the latest site to adopt cryptocurrency payments. The company, which is owned by Market America, announced its partnership with crypto payment service provider BitPay, which will allow it to accept payments in several cryptocurrencies, including Bitcoin (BTC). The new partnership enables Shop.com users to select the BitPay option during checkout to pay via their crypto wallets. Currently, users have the option to pay with Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE) and Litecoin (LTC), as well as five U.S. dollar-pegged stablecoins. Describing the partnership as the next chapter in …

1inch Network, a major decentralized exchange (DEX) aggregator and automated market maker, is broadening its reach by partnering with veteran crypto wallet provider BitPay. The two companies announced that 1inch’s DEX aggregation functionality is available for all users of the BitPay wallet — an app that allows individuals to manage, convert and spend 12 different cryptocurrencies through integrations with ATMs, Apple Pay, Google Pay and Mastercard. The 1inch Network partnership enables BitPay wallet users to use the DEX aggregator directly. 1inch Network announced wider integrations with different decentralized finance (DeFi) protocols and DEXs this year to strengthen its liquidity pools …

Payments in cryptocurrencies like Bitcoin (BTC) make up one of the biggest use case demands among consumers alongside long-term investment, according to new data. Pymnts, a major payments-focused publication, released Monday a report on consumer preferences regarding cryptocurrency payments. Dubbed “Cryptocurrency Payments Playbook: Cryptocurrencies Gain Momentum As A Payment Option,” the study analyzes a survey of over 8,000 consumers in the United States, including existing and former crypto holders, as well as crypto non-owners. Conducted in collaboration with crypto payment firm BitPay, the study found that crypto holders and non-owners are interested in crypto payments. As many as 93% of …

GoldConnect, a Latin American telecommunications wholesaler, announced Tuesday that it will allow customers to pay with cryptocurrencies through payment processor BitPay, marking another important milestone in the region’s embrace of Bitcoin (BTC). Crypto payments can be made directly through LatamConnect, a platform that connects directly with BitPay. Crypto payments made through BitPay are settled in local fiat currency. GoldConnect said its embrace of crypto payments reflects growing demand for such services across the 17 Latin American and Caribbean countries in which it operates. "As a disruptive telecom provider in the LATAM region, we must continuously embrace the latest technologies and …

A city in North Dakota is joining the cryptocurrency adoption race in the United States by starting to accept crypto payments. Hercules Cummings, finance director for the City of Williston, announced Thursday that the city administration has partnered with crypto payment firm BitPay to start accepting cryptocurrencies like Bitcoin (BTC) as payment for utility bills. “We have partnered with BitPay, the largest virtual payment merchant whose partners include Microsoft and Facebook. We are the first municipality in the State of North Dakota, and the third in the nation, to offer this service,” the city executive stated. Utility bill payments will …

As blockchain technology and the public's awareness of cryptocurrency continues to grow, a range of new use cases a coming to market and enhancing the efficacy of legacy financial systems. Despite its many applications, the original use case for Bitcoin (BTC) as a medium of exchange remains one of the most fundamental applications of blockchain technology and while BTC might not be the best asset to use for payments, there are service providers who have eased the process of settling transactions in other cryptocurrencies. For now, the most widely accepted way to use cryptocurrencies for direct payments in everyday life …

Digital asset custody firm BitGo has expanded its cold storage insurance program, raising its insurance capacity by $600 million. BitGo debuted its crypto insurance program through global insurance and reinsurance market Lloyd’s of London in 2019. This enabled BitGo clients to acquire insurance for their digital assets held on BitGo’s Business Wallet service and Custodial offering for up to $100 million. BitGo announced Wednesday that its “Dedicated Customer Excess Specie” insurance program has been expanded to cover assets valued at over $700 million. The expansion comes in response to strong demand from institutional custody clients. The excess insurance program was …

American online electronics retailer Newegg has added Dogecoin (DOGE) as an official payment method amid the ongoing parabolic surge of the meme-based cryptocurrency. Newegg announced Tuesday that the company added the option through crypto payments platform BitPay. The firm said that the new feature was introduced in conjunction with Doge Day — a community crypto holiday pushed by DOGE proponents to be celebrated on April 20. According to online reports, Dogecoin advocates apparently hope to see DOGE hit $1 today. We become LEGENDARY today. #DogeDay pic.twitter.com/jYEaNHE3p6 — DogeCoin (@OnIyDOGE) April 20, 2021 Newegg senior brand manager Andrew Choi said that …

The Kessler Collection, an American luxury hotel brand, has begun accepting Bitcoin (BTC) and cryptocurrencies as a payment option. According to a press release issued on Tuesday, the hotel chain has partnered with crypto payment gateway service BitPay to begin accepting Bitcoin. Other cryptos adopted include Ether (ETH), Dogecoin (DOGE) as well as four stablecoins — USD Coin (USDC), Paxos Standard (PAX), Binance USD (BUSD), and Gemini dollar (GUSD). The Kessler Collection now becomes the latest luxury brand to partner with BitPay to enable crypto payments for their products and services. For Fravy Collazo, the company’s chief financial officer, adopting …

Dogecoin (DOGE), a cryptocurrency borne out of a joke, can now be used as payment for tickets and merchandise for the Dallas Mavericks basketball team. The National Basketball Association franchise confirmed Thursday that it has become the first major business to accept DOGE, allowing users to convert the digital currency to fiat using BitPay. We're proud to be the first business to accept the #crypto Dogecoin for payment using BitPay! You can now use #Dogecoin to buy tickets and merch online, making @DallasMavsShop more accessible to MFFLs everywhere! pic.twitter.com/1N0fk0NjAT — Dallas Mavericks (@dallasmavs) March 4, 2021 The Mavericks have been …

BitPay will have to pay the U.S. Treasury's Office of Foreign Asset Control over half a million dollars for crypto services to sanctioned regions. In a Feb. 18 announcement of the settlement, OFAC said that BitPay had facilitated "approximately $129,000 worth of digital currency-related transactions with BitPay’s merchant customers" by users from Crimea, Cuba, North Korea, Iran, Sudan and Syria — effectively the full range of geographical sanctions that OFAC has in place. OFAC repeated that crypto firms need to align themselves with sanctions programs, saying: "This action emphasizes that OFAC obligations apply to all U.S. persons, including those involved …

The string of major payments companies allowing crypto features continues as BitPay announced today that BitPay card users can now connect to Apple Wallet and pay for goods and services using Apple Pay. "We have thousands of BitPay Wallet app customers using the BitPay Card who are always looking for new places and ways to spend their crypto,” said BitPay CEO Stephen Pair in a press release. “Adding Apple Pay and soon Google and Samsung Pay makes it easy and convenient to use the BitPay Card in more places from day-to-day items to luxury purchases.” Bitpay currently allows for payments …