P2P platform Paxful has launched a service that allows businesses around the world to accept BTC. Their customers can choose from over 400 payment methods.
Paxful Pay converts the money received from the customer into digital gold and sends it to the merchant's wallet. Clients of the service can track transactions and change the configuration of the solution on a special dashboard.
According to the press release, the platform will add support for Tether (USDT) and other stablecoins in the future. Paxful also plans to integrate an automatic bitcoin-to-fiat conversion feature.
According to Paxful CEO Ray Youssef, the platform has decided to launch a new tool as people in many regions of the world use Bitcoin as a means of payment.
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The founder of the platform, Artur Shabak, mentioned that until the last moment the service worked in test mode for a limited number of clients. In his opinion, Paxful Pay will contribute to the widespread adoption of cryptocurrencies.
“Until now, Paxful Pay has worked with a limited number of merchants - just over 100 - in selected regions to test the product and improve its capabilities. With the official launch, we are increasing the number of users and expect more merchants around the world to join us, ”added Shabak.
Paxful previously launched a Visa debit card for US users to convert cryptocurrencies into dollars for cash withdrawals and payments for goods and services.
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In April 2020, the platform allowed customers to make transactions to buy physical gold with cryptocurrency.