Cryptocurrency payment processor BitPay has announced that it has added support for a popular metaverse coin. The platform is accelerating the adoption of cryptocurrencies through a series of collaborations.
BitPay expands its stock market list with this metaverse coin
Supporting the Bored Ape Yacht Club NFT ecosystem, Apecoin has seen a significant surge in popularity after Italian fashion house Gucci announced today that it will start accepting the cryptocurrency in collaboration with BitPay. ApeCoin currently ranks as the 34th largest cryptocurrency on CoinMarketCap. BitPay has also expanded its cryptocurrency options by including the stablecoin Euro Coin (EUROC). BitPay users can now transact via APE and EUROC.
Now accepting @ApeCoin payments via @BitPay, select Gucci boutiques in the USA expand the range ofcryptocurrencies available for in-store purchases, yet another step in the House's exploration of Web3.
— gucci (@gucci) August 2, 2022
According to the information on its website, BitPay processed a total of 66,608 transactions in June. More than half of all transactions were made using the largest cryptocurrency, Bitcoin (53.3%). Ethereum (9.71%) and Litecoin (21.21%) rank second and third, respectively. The top 5 also includes Bitcoin Cash (5.02%) and Dogecoin (6.17%). Less than 0.5% of all transactions included the Shiba Inu, a share lower than in March.
BitPay partnerships
Luxury yacht firm Yachtzoo teamed up with BitPay in July for cryptocurrency payments. Last month, Swiss travel agency Kuoni also announced its partnership with BitPay. AMC Theaters, the world’s largest movie theater chain, and major electronics retailer Newegg are just two of the few companies backed by the well-known cryptocurrency company.
About BitPay
Founded in 2011, BitPay is one of the oldest cryptocurrency companies. In particular, the platform integrates the ways businesses and people send, receive and store money into cryptocurrencies. BitPay offers users digital asset management solutions that include BitPay Wallet and BitPay Prepaid Card. The company has offices in North America, Europe and South America. It has also raised more than $70 million in funding from leading investment firms such as the Founders Fund, Index Ventures, Virgin Group and Aquiline Technology Growth.
Expectations from the Metaverse coin market
The new report published by Technavio sheds light on the expectations from the metaverse market. According to the research, the metaverse will reach a market capitalization of $50.37 billion by 2026. The growth of the industry was analyzed specifically over five timeframes covering 2021-2026. Moreover, the growth momentum of the market is expected to increase enough to bring the compound annual growth rate closer to 21%. In addition, the predicted growth rate in the metaverse sector for this year alone is 20.11%. cryptocoin.comWe have quoted the recent Absolute Reports’ new report in this article.
