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Crypto payment platform BitPay has launched a new service named Bill Pay, enabling users to settle everyday bills directly from their cryptocurrency wallets.
In a press release dated August 8, BitPay announced that Bill Pay will provide users with access to over 5,000 service providers, which include car payments, mortgages, personal loans, and credit cards.
This new functionality is integrated into BitPay’s self-custody wallet, allowing customers to make payments seamlessly without the need for banks or other financial institutions.
BitPay indicates that the payment solution will initially be accessible in only 19 states, such as Florida, New Jersey, and Washington.
CEO Stephen Pair characterized the new service as a “monumental” advancement for unbanked communities. He also mentioned that BitPay customers represent some of the largest users of cryptocurrency and that Bill Pay could significantly impact the industry.
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Shiba Inu rises 10% following BitPay’s card payment introduction
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The announcement of the Bill Pay service follows BitPay’s recent partnership with Sardine, which facilitates Shiba Inu (SHIB) card payments across more than 180 countries.
This collaboration enables holders to spend up to $3,000 worth of SHIB each day on various purchases.
The introduction of these new use cases has resulted in a price increase for SHIB by as much as 10% in the past 24 hours, with a total gain of 20.39% over the last week, according to data from CoinGecko.
SHIB 24-hour price chart | Source: CoinGecko
SHIB 24-hour price chart | Source: CoinGecko
The dog-themed meme coin is currently trading at $0.00000995, with a 24-hour trading volume of $426,342,686.
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