Cryptocurrency payment processor BitPay has entered a partnership with Ripple’s investment arm Xpring to support payments with XRP.
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 in real time thanks to a partnership with payment gateway and XRP Ledger wallet provider GateHub. The platform allows users to receive funds in XRP and convert them into euros, United States dollars, Bitcoin (BTC) and Ether (ETH).
In August, Xpring announced a 1 billion XRP (roughly $265 million) grant to Coil to build an ecosystem of creators, developers, companies and nonprofits that use XRP through the Web Monetization open standard.
As for BitPay, the company underwent a security and confidentiality compliance review, the Service Organization Control 2 (SOC 2) on Sept. 30. 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.
XRP is currently the third largest coin in terms of market capitalization. The altcoin is trading at around $0.25 at press time, up almost 1% over the past 24 hours. On its weekly chart, XRP reports modest gains of 2.33%.