The peer-to-peer (P2P) marketplace provider Paxful has announced a new e-commerce solution that will allow businesses anywhere in the world to accept payments in cryptos, beginning with Bitcoins.
The tool, called Paxful Pay, will allow consumers to use almost 400 different payment methods to be converted to Bitcoins.
The amount in crypto will then be paid into the retailer‘s digital wallet who, in turn, can convert their Bitcoins into local currency.
Explaining Paxful’s move, its CEO, Ray Youssef, stated that it was “imperative that we give users and businesses around the world the opportunity to take advantage of the power of Bitcoin to gain financial freedom”.
"Dynasty Global Investments AG’s founder and CEO, Eduardo Carvalho sees this development as “another example of cryptos becoming part of people’s daily lives and how retailers will also need to adapt if they want to serve those who prefer to buy goods and services using digital currencies”."
Paxful stated that it planned to also roll out support for stablecoins, such as Tether, which is linked to the US dollar.