Recently, Canada-based crypto payments platform FCF Pay has broadened its support for various cryptocurrencies, including XRP and Shiba Inu (SHIB). Consequently, the company now allows Bitcoin miners and other customers to settle their electricity bills using a range of digital assets.
FCF Pay Offers Crypto Card Flexibility
However, it’s essential to understand that none of the American companies associated with FCF Pay’s Bill Service currently accept direct crypto payments. Instead, all cryptocurrency transactions are channeled through the FCF gateway. Here, they undergo conversion to fiat currency by an automated system. Once this conversion process concludes, the respective bills are settled in fiat. According to FCF Pay, this procedure typically spans 24 to 48 hours.
If FCF’s list doesn’t feature a customer’s preferred electricity provider, they can use a crypto card to pay their bills. This flexibility is an added advantage for users needing help finding their listed providers.
Ripple’s License Boosts Crypto Business Acceptance
Additionally, FCF Pay’s recent announcements have showcased its expanding reach. Besides enabling Chase Bank customers to address their mortgages and credit card loans with crypto, the platform has incorporated Honda and HSBC into its list of supported companies. Hence, while HSBC clients can now clear their mortgages and loans using digital assets, Honda enthusiasts have the opportunity to acquire vehicles using FCF Pay’s array of supported coins, such as SHIB and XRP.
Significantly, FCF Pay’s service isn’t limited to utility bills or vehicle purchases. The platform extends its crypto payment services to over 20,000 American firms, including notable names like PayPal, American Airlines, Walmart, and Amazon.
Besides FCF Pay’s advancements, the crypto world witnessed Ripple’s commendable achievement. The company recently secured in-principle approval for its Major Payments Institution (MPI) license from the Central Bank of Singapore. This development underscores cryptocurrency solutions’ increasing practicality and acceptance in the business and financial sectors.
Read Also: XRP Lawsuit Trial Date Locked In April 2024; Any Further Change?
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Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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