On August 2, Atlanta-based crypto payment service provider Bitpay announced that it had expanded its support for crypto assets with two different crypto assets. Bitpay has revealed that the company has integrated apecoin and the euro coin into the company’s platform and luxury retailer and designer Gucci has announced that it will be the first merchant to accept apecoin through Bitpay.
APE and EUROC now supported by Bitpay’s payment platform, Gucci becomes the first merchant to accept APE through Bitpay’s services
Bitpay has added two new crypto assets to the company’s payment platform after Bitpay’s payment processor has already accepted digital currencies such as bitcoin, bitcoin cash, ethereum, xrp, dogecoin , shiba inu and litecoin.
Along with these coins, Bitpay supports a few stable assets as well as the Circle 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 “Otherside”. The Euro Digital Currency Coin (EUROC) is the recently launched Circle stablecoin, pegged 1:1 to the Euro (EUR).
Both crypto assets were launched this year and Bitpay says luxury retailer and designer Gucci will be the first merchant to accept APE through Bitpay’s system in US stores.
Gucci already accepts ten different crypto assets, and Bitpay co-founder and CEO Stephen Pair said luxury merchants like Gucci have asked Bitpay to support APE and the new euro-based stablecoin EUROC.
“We added the apecoin and the euro coin because customers of our luxury merchant partners requested it,” Pair said in a statement sent to Bitcoin.com News. Bitpay also explained that apecoin holders can leverage the coin with the Bitpay Mastercard.
Apecoin is ranked 33rd out of over 13,000 crypto asset market caps and it hit an all-time high three months ago on April 28, 2022. At that time, APE mined $26.70 per token and today , apecoin is down 74.5% overall. high cost of time.
Circle introduced euro coin in mid-June 2022 and the number of euro-pegged stablecoins has swollen 1,683% since 2020. Prior to supporting EUROC, Bitpay already supported five USD pegged stablecoins BUSD, DAI, GUSD, USDP, and USDC.
What do you think of Bitpay adding APE and EUROC to the company’s supported range of crypto assets? What do you think of luxury retailer and designer Gucci accepting APE in its US stores? Let us know what you think about this topic in the comments section below.
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