BitPay has integrated Solana into the platform, allowing users and merchants to purchase, store, send, receive, swap and use Sol and Solana-based Stablecoins.
summary
- BitPay, the leading crypto payment processor, has integrated the Solana blockchain into its platform.
- Payments from external Solana wallets (Phantom, Solflare, Backpack) are supported, and Solana-based payouts are planned for future updates.
- Major networks such as Visa and Fiserv also utilize Solana for Stablecoin transactions, highlighting the growing adoption in mainstream finance.
In a press release shared with Crypto.news, Bitpay announced that it has integrated the Solana blockchain into its platform, enabling support for Solana (SOL), USD Coin (USDC), and Tether (USDT).
“With the addition of Solana Support, we strengthen our commitment to Stablecoin payments by providing users and merchants with faster, lower cost trading methods,” said Bill Zielke, Bitpay CMO.
This integration allows users to directly purchase, store, send, receive, swap and use Solana-based assets in their BitPay wallets. Payments can also be made from external Solana wallets such as Phantom, Solflare, and Backpack. Merchants accepting BitPay payments can receive funds without retaining a code, and Solana-based payments are planned for future renewals.
The 1916 company, a retailer of luxury watches and jewelry, was one of the first to accept Solana payments through BitPay. CEO John Shmerler cited network efficiency and low fees as important benefits for both customers and business.
You might like it too: Solana Network Extensions redefine blockchain scaling opinion
Major payment networks continue to integrate Solana
Solana is increasingly integrated into a variety of payment platforms, as its throughput and low transaction costs allow for faster and more efficient cross-border and on-chain payments. In particular, Solana is integrated into Visa’s payment platform for Stablecoin transactions, along with Stellar (XLM) and Avalanche (Avax) recently added Ethereum (ETH).
Additionally, Fiserv, a Global Payments Technology Provider and NYSE-listed Fortune 500 company, will launch a bank-friendly Stablecoin in Solana in the coming months.
You might like it too: Fortune 500 Firm Fiserv launches Stablecoin at Solana
