Bitcoin’s (BTC) use as a protector of wealth is coming to the fore in Hong Kong as trading volumes spike and businesses iron out problems with acceptance. Trading record underscores Bitcoin’s “non-seizability” As multiple commentators including Morgan Creek Digital co-founder Anthony Pompliano noted this week, Bitcoin is a genuine solution for Hong Kong residents worried about monetary sovereignty. “When you’re worried about your assets being seized or becoming inaccessible to you, Bitcoin’s non-seizability becomes very attractive. This aspect of Bitcoin just became important for 1+ billion people in India & Hong Kong,” he tweeted on Oct. 6. Pompliano was writing …

Major cryptocurrency payment processor BitPay has entered a partnership with Ripple’s investment arm Xpring to support payments with XRP. The development was announced in an Oct. 2 press release, revealing that now businesses can accept the third-largest digital currency XRP for payments via BitPay’s cross-border payments platform. As part of the cooperation, BitPay is also integrating its BitPay Wallet with Xpring’s developer platform. In a separate announcement, Xpring added that global companies are now able to accept XRP through BitPay without the need for integration and enhancements. Earlier today, Cointelegraph reported that web monetization platform Coil began supporting XRP payments …

Major cryptocurrency payment services provider BitPay has undergone a security and confidentiality compliance review, the Service Organization Control 2 (SOC 2). According to a Sept. 30 news release, business advisory company Aprio confirmed BitPay’s compliance with the SOC 2, a tech audit and a requirement for technology companies that assures that customers’ personal data is kept secure and confidential. Passing an SOC 2 review means that the firm has met criteria set by the American Institute of Certified Public Accountants in regard to confidentiality, security, privacy, processing integrity and availability. Commenting on the evaluation, Dan Schroeder, partner-in-charge of information assurance …

Cryptocurrency payment processor BitPay may soon find it harder to do business as developers plan to remove support for the way it creates payment addresses. BitPay address support may disappear from Bitcoin In a GitHub discussion about the future 0.19.0 release of the Bitcoin Core client, developers continued plans to disable BIP70 by default, and possibly remove it altogether in a later version. The proposal first appeared in March this year, with activity to make it a reality ongoing. BitPay has stuck to using the payment address format defined in BIP70. Other wallets and payment businesses have joined the majority …

Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), has red-flagged the activities of a fraudulent clone website that is impersonating cryptocurrency payment services provider BitPay. On Sept. 18, the CSSF issued a warning about a company going by the name Bitbay Europe S.A. The website alludes to being the European branch of BitPay, stating: “The world's smartest Bitcoin exchange service has landed in Europe.” The firm claims to be authorized to operate in Luxembourg and work under the regulator's supervision, but the CSSF refuted this, saying: “The CSSF informs the public that an entity named bit-bay EUROPE …

Major cryptocurrency payment services provider BitPay has added support for the second-largest cryptocurrency by market capitalization, Ether (ETH). Per a press release published on Sept. 16, companies that use BitPay for payment processing are now able to accept Ether for purchases without having to set up any enhancements. BitPay has also made it possible for users to store and use Ether in a BitPay wallet, and for BitPay Prepaid Visa Card holders to top up their debit cards. Ether joins Bitcoin and Bitcoin Cash Launched in 2011, BitPay processes payments with Bitcoin (BTC), Bitcoin Cash (BCH) and now Ether. The …

Cryptocurrency payment processor BitPay faces another publicity nightmare amid claims it blocked donations to Hong Kong for several weeks. According to a complaint on social media by Tom Grundy on Sept. 11, founder of crowdfunded media outlet Hong Kong Free Press (HKFP), BitPay suddenly began failing to pass on funds from donors. Press CEO: “Never use BitPay” HKFP has accepted Bitcoin (BTC) support since 2015. Since that time, BitPay has processed payments worth just under 15,000 HKD ($1,900). For the past three weeks, however, the company has blocked access, Grundy explaining that delays in the fiat banking system were to …

Crypto wallet service Blockchain Wallet has integrated cryptocurrency payment processor BitPay. Payments conducted through Blockchain Wallet Blockchain announced the news on Aug. 23, stating that it now allows its users to copy or scan invoices, allowing them to make a Bitcoin (BTC) payment entirely through its wallet app. The new functionality reportedly allows users to purchase products and services via BitPay’s online network while retaining ownership of their private keys through Blockchain Wallet. BitPay is one of the largest crypto payment processors and is offered in a multitude of online stores. It has purportedly processed nearly $3 billion in payments …

Controversial cryptocurrency payments processor BitPay is facing another PR nightmare after the company rejected a $100,000 donation to an Amazon rainforest charity. BitPay leads Amazon Watch to compliance dead end According to a social media complaint by Amazon Watch, an organization which seeks to support the Amazon rainforest’s ecology and indigenous peoples, the payment failed to pass BitPay’s internal checks. The would-be donor was trying to contribute due to the ongoing wildfires in the Amazon, the charity suggests, but could not complete the payment in Bitcoin (BTC). Officials attempted to contact BitPay, but had received no response, they said. “We …

The Dallas Mavericks have become the second NBA team to accept Bitcoin (BTC) as a means of payment for match tickets and merchandise. A tweet from cryptocurrency payment processor BitPay confirmed the news on Aug. 13. Mavs’ billionaire owner is a crypto enthusiast Cryptocurrency adoption has been on the horizon for the Mavs since early last year, when team owner and billionaire tech investor Mark Cuban hinted that fans would soon be able to use Bitcoin to buy tickets to the team’s games. A year and a half later, Cuban’s plans have materialized and the Mavs join their NBA rivals, …

Cryptocurrency payment processor BitPay is introducing new identity verification measures for certain high-value payments, refunds and payouts. According to an Aug. 1 announcement from the United States-based firm, the new measures notably do not apply to person-to-person payments using the BitPay and Copay apps. Photo ID, Social Security number BitPay is rolling out its new ID verification flow as part of a new BitPay Dashboard, which will function as a personalized home page that provides access to users’ transaction histories and various payment features. With the launch of BitPay ID, users will be required to undergo a one-time verification process …

Bitcoin (BTC) and Bitcoin Cash (BCH) payment processor BitPay confirmed that it suspended its operations in Germany in an email sent to Cointelegraph on Aug. 1. BitPay: “We have paused operations in Germany” In the aforementioned email, a BitPay PR rep. Jan Jahosky cited regulation coming into force next year in Germany as the reason why the company decided to suspend its services in the country. The firm added that it is currently evaluating adding support for Germany again in the future. A BitPay spokesperson told Cointelegraph: “Germany has publicly stated that they want crypto companies to apply for a …