BitPay, an American-based global cryptocurrency payment service company, received stable coin as payment. The company allows its users to accept payments in Gemini Dollars (GUSD) and Circle USD Coin (USDC).
GUSD and USDC are stable coins that are based on Blockchain Ethereum and published by the Gemini and Circle cryptocurrency exchange exchanges, the price of GUSD and USDC is pegged to the US Dollar at a 1: 1 ratio thereby reducing the risk of volatility.
Bitpay was founded in 2011 in Georgia, America, BitPay received payments with Cryptocurrency Bitcoin (BTC) and Bitcoin Cash (BCH), the company has a user base of up to 200.00 businesses worldwide.
In his Blog post-BitPay said that stable coin allows traders to accept payments throughout the world even if they do not have a bank account, BitPay claims to issue payments for GUSD and USDC within 24 hours after the merchant gets a sufficient balance of payments from 20 GUST or 20 USDC.
Source: cointelegaph
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