We’re excited to announce that BitPay now supports Etheruem and ERC-20 Stablecoin payments for our payroll and payouts solution, BitPay Send.
Organizations can now pay out in supported ERC-20 tokens including: Ethereum (ETH), Shiba Inu Coin (SHIB), ApeCoin (APE), Polygon on the Ethereum network (MATIC_e), Dai (DAI), USD Coin (USDC), Wrapped Bitcoin (WBTC), Pax Dollar (USDP), Gemini Dollar (GUSD) and Euro Coin (EUROC). Additionally, organizations may still pay out in non-Ethereum cryptocurrencies like Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE) and Bitcoin Cash (BCH).
In addition to the usual benefits that come with crypto payouts, ERC-20 stablecoins like USDC, EUROC, USDP and GUSD provide the stability of being backed by reserves and pegged 1:1 to traditional fiat. Recipients can receive their payments without worry of volatility, then convert to their preferred fiat currency, swap to another cryptocurrency or spend with the thousands of merchants that accept crypto payments.
Using ETH and stablecoins for payouts
BitPay Send is a fast, efficient and secure way to send crypto via mass payouts anywhere in the world. Leverage ERC-20 tokens for the a variety of payout use cases:
- Make crypto payroll payments: Offer your employees the unique benefits of being paid in crypto.
- Rewards, rebates and refunds: Offer customers crypto incentives to shop with your brand.
- Marketplaces and affiliates settlements: Pay out sellers and affiliates at scale.
- Customer cash outs: Traders, players and creators can choose to cash out in cryptocurrency.
- Pay B2B vendors: Settle accounts with cryptocurrency payments.
Benefits of paying out in ETH and stablecoins
Paying out in cryptocurrency via BitPay Send offers organizations multiple benefits.
- Never hold crypto: Send payments without holding or managing crypto.
- Low cost: Pay fewer fees than traditional remittance and payout solutions.
- Faster than fiat: Send global payments quicker than legacy payment rails.
- Automated payments: Pay out crypto programmatically via API or push manually as needed.
- Secure, regulated and compliant: BitPay verifies the identity of all payees, regardless of nationality or country of residence.
- Global payouts: Cross-border payments to anyone, anywhere; send crypto to over 225 supported countries.
- Flexible payment options: Fund locally, pay out globally with the top cryptocurrencies to any wallet.
- Less volatility: Stablecoins allow you to send payments without the typical volatility of traditional cryptocurrencies.
How to get started paying out in ETH and ERC-20 tokens
Organizations can accept and send Ethereum and stablecoin payments even with little to no knowledge of crypto. BitPay crypto payroll and payouts solution, BitPay Send, is a secure, turn-key way to send crypto to anyone, anywhere in the world.
Contact the BitPay team to set up a free BitPay business account. Once approved, simply fund your account in fiat and provide BitPay with your pay out preferences. BitPay converts your fiat to cryptocurrency and sends the payouts directly to your recipients. It is that easy.