Largest global blockchain payments provider BitPay has introduced a new settlement option for businesses and merchants: Gemini Dollar (GUSD) and Circle CENTRE USD//Coin (USDC)—two leading stablecoins pegged to the U.S. dollar.
This update marks a significant expansion from BitPay’s previous support for Bitcoin (BTC) and Bitcoin Cash (BCH) payments only.
Why Stablecoins Matter for BitPay Users
Stephen Pair, BitPay’s co-founder and CEO, emphasized the benefits:
“BitPay was founded to make payments faster, more secure, and less expensive using Bitcoin for organizations around the world. The introduction of USDC and GUSD stablecoins offers customers a non-volatile alternative to holding BTC or BCH.”
Key Advantages of Stablecoin Settlements
- Reduced volatility risk: Unlike cryptocurrencies, stablecoins maintain a 1:1 peg with the U.S. dollar.
- Faster cross-border transactions: Avoid delays and fees associated with traditional bank wires.
- Global accessibility: Available in 190 countries, with invoice pricing in 150 fiat currencies.
👉 Discover how BitPay’s solutions streamline international payments
How BitPay’s Settlement Works
Businesses can choose from multiple payout methods:
- Bank transfers (processed the next business day).
- Cryptocurrencies (BTC, BCH).
- Stablecoins (GUSD, USDC)—settled within 24 hours, 365 days a year.
Ideal for Emerging Markets
BitPay highlights that merchants in Africa, South America, and Asia-Pacific benefit most from stablecoin settlements due to:
- Unreliable banking infrastructure.
- High foreign exchange costs.
- Slow traditional payment networks.
Beyond Payments: BitPay’s Ecosystem
BitPay also offers:
- A digital wallet for managing crypto assets.
- A Prepaid Visa® Card to convert crypto into spendable dollars.
- Over $70 million in funding from top investors like Index Ventures and Founders Fund.
FAQ
Q: What are stablecoins?
A: Cryptocurrencies pegged to stable assets (e.g., the U.S. dollar) to minimize price fluctuations.
Q: How do BitPay’s stablecoin settlements reduce risk?
A: Merchants avoid crypto volatility while retaining blockchain speed and low fees.
Q: Which regions benefit most from this update?
A: Markets with limited banking access or high wire transfer costs.
👉 Explore BitPay’s global payment solutions today
**Keywords**: BitPay, stablecoins, Gemini Dollar, Circle CENTRE Coin, USDC, GUSD, crypto payments, blockchain settlements.
**Note**:
- Removed promotional links and image reference.