Yesterday, March 3, 2021, Bitfinex announced the launch of Bitfinex Pay, a solution for all merchants who want to accept crypto payments online from all over the world.
In the press release, the exchange explained that this widget can be integrated into any type of website to facilitate payments over the Internet. Bitfinex Pay currently supports Ethereum (ETH), Bitcoin (BTC), Lightning Network BTC (LN-BTC), and Tether (USDt) tokens found on both Ethereum and Tron.
Payments made through Bitfinex Pay will not be converted to fiat currency, but will be sent directly to the merchant's Bitfinex account.
Paolo ardoino, CTO of Bitfinex, explained this innovation as follows:
“This is the era of digital money and with Bitfinex Pay we have created a seamless and intuitive way for online merchants to receive payments in crypto. Bitfinex Pay enables merchants to easily equip themselves to support crypto payments as an increasing number of consumers become more comfortable paying for goods and services using digital tokens. "
How does Bitfinex Pay work?
These payments can amount to a maximum of $ 1,000 USD. Bitfinex Pay does not retain any fees, although it is worth mentioning that blockchain transactions, that is, Ethereum gas or Bitcoin miners fees, will certainly pay off.
To start using Bitfinex Pay, it is necessary to have a verified account at least at the intermediate level of KYC on the exchange.
Latest news on Tether and Bitfinex
Recently, the Tether stablecoin hit new records, reaching a market capitalization of more than $ 30 billion.
Also, a few weeks ago, it was concluded the New York prosecutor's case against Tether and Bitfinex.
Bitfinex and Tether will have to cease all activities in New York State, pay $ 18.5 million in fines and increase transparency, but it is still very good news for the record-breaking stablecoin, whose detractors already called it a missing.
Detractors of Tether seem so disappointed with the outcome of the lawsuit, that they have allegedly released false documents, demanding an obviously unpaid ransom of 500 bitcoins.