On August 2, Atlanta-based crypto payment service provider BitPay announced that it has expanded its crypto asset support with two different crypto assets. Bitpay revealed that the company has integrated Apcoin and Eurocoin into the firm’s platform and luxury retailer and designer Gucci has announced that it will be the first merchant to accept Apcoin through Bitpay.
APE and Euroq 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 payments platform after Bitpay’s payment processor already accepts digital currencies such as Bitcoin, Bitcoin Cash, Ethereum, XRP, Dogecoin, Shiba Inu and Litecoin.
Along with those coins, BitPay also supports some stablecoin assets as well as Circle’s USD Coin (USDC). This week, BitPay expanded the platform’s options by adding Apcoin (APE) and Euro Coin (EUROK).
Apecoin (APE) is known as a cryptocurrency asset designed for the Bored Ape Yacht Club (BAYC) metaverse called the “other side”. The digital currency Euro Coin (EUROC) is the newly launched Circle stablecoin backed 1:1 with the Euro (EUR).
Both crypto assets launched this year and Bitpay reports that luxury retailer and designer Gucci will be the first merchants 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 asked Bitpay to support APE and the new euro-based stablecoin Euroc.
In a statement sent to bitcoin.com news, Payer said, “We added Apcoin and Eurocoin because customers of our luxury merchant partners asked for it.” Bitpay also revealed that Apcoin holders can take advantage of coinsurance with the Bitpay MasterCard.
Apcoin is ranked 33rd by market capitalization of over 13,000 crypto assets and it reached an all-time high three months ago on April 28, 2022. At the time APE tapped $26.70 per token and today, Apcoin is down 74.5% from all-time highs.
Circle introduced the euro coin in mid-June 2022 and the number of euro-pegged stablecoins has increased by 1,683% since 2020. Before supporting the EUROC, Bitpay already supported USD-pegged stablecoins BUSD, DAI, GUSD, USDP and USDC.
What do you think about Bitpay adding APE and Euroq to the company’s supported lineup of crypto assets? What do you think about luxury retailer and designer Gucci accepting APE at its US stores? Let us know what you think about this topic in the comment section below.
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