BitPay partners with Ripple’s Xpring initiative to accept XRP for payments

by Osiris Team


Posted on Oct. 2, 2019, 4:57 p.m.
Development
Time to read: 3 min
XRP

BitPay, one of the largest crypto payments providers in the world, announced that it is planning to offer XRP support for businesses to accept this cryptocurrency.

In order for this to happen, BitPay partnered with Ripple’s developer initiative Xpring. The information was released by BitPay a few hours ago in a blog post.

With this new partnership, businesses will be able to accept XRP for payments using BitPay’s merchant processing and cross-border payments platform.

In addition to it, BitPay Wallet and BitPay Prepaid Cardholders will also be able to store and spend XRP using BitPay merchants and businesses.

Sean Rolland, Director of Product at BitPay informed about this new initiative:

“BitPay customers are leveraging the promise of blockchain payment technology and with XRP can offer a payment option that is fast, cost-effective and scalable. The addition of XRP as the next blockchain asset supported by BitPay expands blockchain choices across the payments space.”

With this partnership, Ripple will be able to build the Internet of Value and exchange funds as fast as information does on the internet. Furthermore, BitPay Wallet will also integrate with Xpring’s newly launched developer platform, making it easier for businesses to integrate these services.

BitPay processed more than $1 billion annually from global merchants such as Microsoft, Newegg, Dish Networks and many others.

Ripple has also announced a few minutes ago that they are launching the next evolution of Xpring.

This platform will offer a set of tools, services and programs that makes it easier for developers to send and receive payments in any currency, across any network and using the XRP Ledger and the Interledger Protocol. This would allow money integration into applications to happen in an easier way.

The company is currently working in order to offer easy access to technology to move money instantly across payment networks.

Xpring will improve and enhance these technologies and offer developer support, advocacy and partnerships for them to be able to solve real problems.

A few days ago, Ripple decided to remove all mention to xRapid, xVia and xCurrent from its website.

XRP is the third largest cryptocurrency in the market after Bitcoin (BTC) and Ethereum (ETH). According to data provided by CoinMarketCap, XRP is being traded around $0.253 and it has a market cap of $10.91 billion.


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