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  • Through FCF Pay, Bitcoin miners can now offset their Bills through SHIB and XRP.
  • The payment processor is broadening accessibility to these coins with its growing partnerships.

Canada-based payment platform FCF Pay now supports the payment of utility bills with a range of cryptocurrencies including Ripple-associated XRP and Shiba Inu (SHIB). Moving forward, Bitcoin (BTC) miners and other customers can now offset their electricity bills using these digital assets. 

The development demonstrates a growing acceptance and adoption of cryptocurrencies. It also shows the blooming interest amongst firms to provide innovative solutions that bridge the gap between traditional and digital finance, although, there are still some hurdles to overcome in the area of mainstream acceptance by businesses. 

Many of the American companies linked with FCF Pay’s Bill Service have not begun to accept digital assets as a means of payment as of now. Rather, all crypto transactions are made to go through the FCF gateway where they are automatically converted to fiat currency. 

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After the automated system completes the process of conversion, all bills are settled in fiat currency and the process takes between 24-48 hours, according to FCF Pay.

This crypto payment enablement makes it easier for customers to pay their electricity bill especially those who need help finding their listed providers. In situations where FCF’s list doesn’t feature a customer’s preferred electricity provider, a crypto card alternative could be used. This brings an extra layer of flexibility to transaction settlement and also underscores FCF Pay’s commitment to ensuring that users can easily integrate crypto into their daily lives.

Beyond Bitcoin Miners: HSBC, Chase Bank and Honda Partners With FCF Pay

Similarly, the crypto payment platform now facilitates crypto payment for HSBC customers. 

According to the partnership deal, customers of the bank can now pay their mortgage bills and loans using a spectrum of cryptocurrencies including Shiba Inu (SHIB), XRP, Dogecoin (DOGE), and Bitcoin (BTC). Other top firms like Chase Bank and Honda were equally included in the list of companies supported by FCF Pay.

In the case of Honda, customers can purchase vehicles using cryptocurrencies like XRP and Shiba Inu that are supported by the FCF Pay platform. Some other companies like PayPal, American Airlines, Walmart, and Amazon also utilize the payment gateway to process virtual currency payments. 

Markedly, this achievement comes as Ripple secures a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license gives Ripple the authorization to provide digital token payment services in Singapore as the real-world use of digital assets continues to spread across businesses. 

It is obvious that the use of crypto is likely not a passing trend but a technology that is set to revolutionize the way businesses are conducted and how finances are managed. Some netizens and banks believe that digital currencies are risky and have the capacity to make traditional finance obsolete. 

Crypto industry players have attempted to show that this is not the case. In the long run, both forms of financial settlement may exist together as predicted by some of the industry’s top proponents.

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