Today we’re excited to announce a new way for BitPay merchants to receive settlements for their Bitcoin and Bitcoin Cash payments: Gemini Dollars (GUSD) and Circle USD Coin (USDC).
Meet GUSD and USDC
Gemini Dollars (GUSD) and Circle USD Coin (USDC) are both results of efforts by Gemini and Circle (both regulated cryptocurrency exchanges) to represent real US dollar holdings as tokens on blockchains.
The value of each of these coins is pegged to the value of the US dollar at a 1:1 ratio, so there’s no risk of value change or price volatility for holders. Holders can redeem these “stable coins” directly for US dollars via Gemini (for GUSD) or Circle (for USDC) exchange accounts.
Why this matters for BitPay merchants
BitPay makes accepting cryptocurrency easy for businesses. Many of our clients can use BitPay to accept Bitcoin or Bitcoin Cash payments from customers, then receive direct bank transfers in their own local currencies, from pounds to dollars to euros.
https://coincircle.com/l/auzzZ2RA8a
