Singaporean fintech adds Bitcoin payments for merchants with BitPay partnership

Nium, a cross-border payments steadfast based successful Singapore, has announced the motorboat of a caller API-based solution that volition let businesses to commencement accepting cryptocurrency payments.

As per the announcement, the recently launched merchandise is called Crypto Accept. It allows online sellers to judge Bitcoin (BTC) and Ethereum (ETH) earlier expanding to different integer assets successful 2023. Payments are sent to net merchants' accounts successful U.S. dollars oregon different fiat currencies the adjacent concern day, allowing vendors to grow their marketplace and heighten their online outgo experiences portion avoiding terms volatility.

Nium partnered with crypto payments processor BitPay to motorboat the Crypto Accept feature. Consumers volition take their preferred cryptocurrency wallet and scan a QR codification to implicit the transaction. The work volition verify that integer currency is disposable and settee the transaction successful the merchant's chosen currency.

According to Joaquin Ayuso de Paul, the elder vice president and caput of Nium Crypto, “Consumers clasp much than $3 trillion successful cryptocurrency and are looking for much places to walk this wealth online.”

Nium was founded successful 2014 arsenic Instarem and is located successful Singapore. The payments institution claims a planetary web of 130 cardinal consumers. The institution is licensed arsenic a Money Services Business (MSB) successful Singapore, Australia, Hong Kong, Malaysia, India, Canada, Europe and the United States.

Related: Stripe announces fiat outgo enactment for cryptocurrencies and NFTs

Nium's latest determination follows successful the footsteps of different fashionable payments providers to judge cryptocurrency payments. As reported by Cointelegraph, PayMaya, a Philippines-based large fintech firm, recently launched a caller cryptocurrency feature connected its app that allows users to trade, purchase, and walk integer assets utilizing their accounts.

PayPal-owned Venmo has a akin feature that allows users to purchase, store, and commercialized cryptocurrencies close connected the app done a concern with Paxos Trust Company. PayPal besides began to judge Bitcoin arsenic a means of payment for its millions of worldwide merchants past twelvemonth successful March.