Bitfinex Exchange Launches Payment Service for Online Stores

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Cryptocurrency exchange Bitfinex has launched a payment service, connecting to which sellers and stores will be able to receive payments for goods and services in cryptocurrencies.

Currently, Bitfinex Pay supports payments in bitcoin and ether, and for payments in BTC there is support for the Lightning Network. You can also use the USDT stablecoin to pay for goods on the Ethereum and Tron networks. Bitfinex hopes to compete with other payment services such as PayPal. While PayPal does not yet provide cryptocurrency payment services for goods, the company has talked about launching such a feature in the future for the Venmo app.

“We are going to challenge established payment and tech giants with our knowledge and experience and make cryptocurrency payments massive. Now is the era of digital money, and with Bitfinex Pay, users get an intuitive and easy way to pay in cryptocurrencies, “- said the technical director of the exchange Paolo Ardoino (Paolo Ardoino).

To use Bitfinex Pay, an online merchant needs to register an account on the exchange. This is where cryptocurrency payments will come. So far, the maximum payment amount from one client is $ 1,000. But the service does not take a commission for use, and the commission for the transaction will be divided between the user and the seller.

Recall that in early February, the management of the Bitfinex exchange announced the full payment of the debt to Tether. A $ 900 million loan was provided by Tether in 2018.

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