Bitpay, a crypto payment provider based in Atlanta, has announced it had added two cryptocurrency assets to its portfolio. Bitpay revealed the company has integrated apecoin and euro coin into the firm’s platform and the luxury retailer and designer Gucci has announced it will be the first merchant to accept apecoin through Bitpay.
APE and EUROC Now Supported by Bitpay’s Payments Platform, Gucci Becomes the First Merchant to Accept APE via Bitpay’s Services
Bitpay has added two new crypto assets to the company’s payment platform after Bitpay’s payment processor already accepted digital currencies like bitcoin, bitcoin cash, ethereum, xrp, dogecoin, shiba inu, and litecoin.
Alongside those coins, Bitpay supports a few stablecoin assets as well like Circle’s usd coin (USDC). This week, Bitpay expanded the platform’s options by adding apecoin (APE) and euro coin (EUROC).
Apecoin (APE) is well known for being a crypto asset designed for the Bored Ape Yacht Club (BAYC) metaverse called the “Otherside.” The digital currency euro coin (EUROC) is the newly launched Circle stablecoin backed by 1:1 with the euro (EUR).
Both crypto assets were launched this year and Bitpay details that the luxury retailer and designer Gucci will be the first merchant to accept APE via Bitpay’s system in U.S. stores.
Gucci already accepts ten different crypto assets and Bitpay’s co-founder and CEO Stephen Pair said luxury merchants like Gucci, asked Bitpay to support APE and the new euro-based stablecoin EUROC.
“We added apecoin and euro coin because customers of our luxury merchant partners asked for it,” Pair said in a statement sent to Bitcoin.com News. Bitpay explained to Bitcoin.com News that Bitpay Mastercard holders may also be able to leverage the coin.
Apecoin ranks 33 among more than 13,000 cryptocurrency asset market capitalizations. It reached its all-time peak three months ago, on April 28th 2022. APE reached $26.70 for tokens at that point. Apecoin today is down 75% from its previous all-time high.
Circle released the first euro coin mid-June 2022. The number of stablecoins pegged to euro has increased 1,683% from 2020. Bitpay had supported USDC for five USD-pegged coins before it added EUROC support.
What do you think about Bitpay adding APE and EUROC to the company’s supported lineup of crypto assets? How do you feel about Gucci, the designer and luxury retailer accepting APE in its U.S. shops? Please comment below on your views.
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