Bitpay, an Atlanta-based crypto payment service provider, announced on August 2 that it had added two crypto assets to its support. Bitpay announced that the company has integrated euro coin and apecoin into its platform, and Gucci, a luxury retailer and designer, has stated it will become the first merchant to accept Bitpay’s apecoin.
Bitpay’s Payments Platform Now Supports EUROC and APE. Gucci is the First Merchant to Accept APE through Bitpay’s Services.
Bitpay added two crypto assets to its payment platform. Bitpay’s payment processor accepted digital currencies such as bitcoin cash, ethereum and litecoin.
Bitpay also supports stablecoin assets like Circle’s USDC (apecoin) and Circle’s USDC (dollar coin). Bitpay has added apecoin and euro coins to its platform this week.
Apecoin (APE), a crypto asset that was created for the Bored Ape Yacht Club metaverse (BAYC), is well-known. The digital currency euro coins (EUROC) are the new Circle stablecoins backed 1:1 by the euro (EUR).
Bitpay announced that both crypto assets were launched in this year’s Bitcoinpay. Gucci, a luxury designer and retailer, will be the first to accept APE through Bitpay’s system in U.S. shops.
Gucci accepts 10 different crypto assets already. Bitpay’s CEO and co-founder Stephen Pair stated that luxury merchants such as Gucci asked Bitpay for support for APE and the euro-based stablecoin EUROC.
Pair stated that they added the euro coin and apecoin because customers of luxury merchant partners requested it. This statement was sent to Bitcoin.com News. Bitpay explained that Bitpay Mastercard holders can also leverage the coin.
Apecoin ranks 33 among more than 13,000 crypto assets market capitalizations. It reached its all-time high on April 28, 2022, three months ago. APE was trading at $26.70 per token in April 2022. Today, APE is down 74.5% compared to its all-time high.
In June 2022, Circle introduced the euro coin. Since 2020, the number of euro-pegged stabilitycoins has increased 1,683%. Bitpay supported five USD-pegged stable currencies BUSD, DAI and GUSD before supporting EUROC.