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FCF Pay, a payment platform, has expanded its cryptocurrency support to enable users to make bill payments using Ripple (XRP) and Shiba Inu (SHIB). This development coincides with Ripple’s achievement of a Major Payment Institution (MPI) license in Singapore.
FCF Pay, a cryptocurrency payments platform based in Canada, has recently expanded its support for various cryptocurrencies, including XRP and Shiba Inu (SHIB). As a result, the platform now enables Bitcoin miners and other customers to use a variety of digital assets to pay their electricity bills.
FCF Pay Enhances Crypto Payment Options
It’s important to note that none of the American companies associated with FCF Pay’s Bill Service currently accept direct cryptocurrency payments. Instead, all cryptocurrency transactions are routed through the FCF gateway. Within this system, they undergo an automated conversion process into fiat currency. After this conversion is completed, the corresponding bills are settled in fiat currency. FCF Pay states that this entire procedure typically takes between 24 to 48 hours.
If a customer’s preferred electricity provider is not included in FCF’s list, they have the option to use a cryptocurrency card to pay their bills. This flexibility is an added benefit for users who may not find their listed providers on the platform.
Ripple’s Licensing Enhances Adoption of Cryptocurrency Businesses
Furthermore, FCF Pay has recently made notable strides in expanding its reach. In addition to facilitating cryptocurrency payments for Chase Bank customers dealing with mortgages and credit card loans, the platform has now integrated Honda and HSBC into its roster of supported companies. This means that HSBC clients can use digital assets to settle their mortgages and loans, while Honda enthusiasts have the option to purchase vehicles using FCF Pay’s selection of supported cryptocurrencies, such as SHIB and XRP.
Importantly, FCF Pay’s services go beyond utility bills and vehicle purchases. The platform extends its cryptocurrency payment capabilities to over 20,000 American businesses, including well-known names like PayPal, American Airlines, Walmart, and Amazon.
In addition to the notable progress made by FCF Pay, the cryptocurrency industry celebrated a significant milestone with Ripple’s recent accomplishment. Ripple recently received provisional approval for its Major Payments Institution (MPI) license from the Central Bank of Singapore. This achievement highlights the growing recognition of cryptocurrency solutions as increasingly practical and accepted within the business and financial sectors.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.