Paxful Launches Tool Allowing Businesses to Receive Payment in Bitcoin
The tool will convert customers' payments into bitcoin, which is then sent to the merchant's digital wallet.
Peer-to-peer digital asset marketplace Paxful has launched an e-commerce tool to allow businesses worldwide to receive bitcoin payments.
- Paxful Pay exchanges customers' payments from over 400 different methods into bitcoin, which is then sent to the merchant's digital wallet, an announcement Thursday said.
- Other digital currencies are expected to be made available in due course. Paxful plans to introduce automatic conversion into stablecoins like tether as well.
- "There is a clear need to offer local options for bitcoin, and this product is a culmination of our efforts to deliver on that demand," co-founder of Paxful Ray Youssef said.
- The New York-based firm previously rolled out a crypto debit card, which enables users to convert bitcoin into fiat currency at the time the card is loaded with funds.
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