Bitpay, a bitcoin payment service provider, has integrated Brave Wallet into its payment protocol. This allows crypto wallet users to make payments directly from the privacy browser. According to an official press release shared with CryptoPotato, Brave Wallet users will now be able to shop with crypto at thousands of top merchants online and in-store, such as Newegg, APMEX, PacSun, AMC Theatres, and airBaltic. BitPay CEO Stephen Pai praised the move, saying that it will promote payment quality online and in-store for both customers and merchants. The partnership comes a month after Ralph Lauren partnered with BitPay to accept bitcoin payments at its new Miami Design District store.
Crypto Payment Surge in Bear Market
Litcoin and Bitcoin Lightning Network payments are showing impressive growth on BitPay’s platform this year. Despite the ongoing bear market, BitPay recorded an uptick in crypto payments in 2022. This trend appears to have continued in recent months as well, with strong interest in accepting crypto payments by major retailers and brands, especially high-end brands, even during market turmoil. BitPay has processed over $1 million in BTC payments over Lightning since adding support for Bitcoin LN payments in April 2022.
BitPay Merchant Transaction Unaffected By Memecoin Craze
The memecoin craze caused Ethereum-type tokens and NFT-like “inscriptions” to surge, driving up average fees to as high as $30 on May 8 and 9. This added to network congestion and increased bitcoin network activity, causing surging miner fees for BitPay customers as well. However, merchant transactions were largely unaffected, according to a statement by Pair.