The Canadian blockchain payments processor FCF Pay has made a major impact on crypto adoption worldwide. Starting today, all Chase Bank customers will be able to pay their credit card bills, loans, and even mortgage payments in their favorite cryptocurrencies.
20,000 USA Merchants Welcome Crypto: The New Norm?
The groundbreaking move includes but is not limited to the following large market capitalization cryptocurrencies: Bitcoin (BTC), Ether (ETH), Shiba Inu (SHIB), XRP (XRP), Dogecoin (DOGE), BNB (BNB), as well as the most popular stablecoins like Tether (USDT) and USD Coin (USDC).
In an email to Chase Bank, DailyCoin clarified that the firm’s stance on crypto has not changed. While FCF Pay processes payments in crypto, final settlements are made to Chase in fiat via an off-ramp solution.
“Chase does not accept payments for mortgages, loans and credit cards in cryptocurrencies. As the FCS tweet noted, the company claims that they settle payments in fiat rather than in crypto. We have no affiliation with this company”, – explained Justin K. Page, Communications VP for Chase Bank.
Chase Bank belongs to JP Morgan Chase, one of the leading banking corporations. JP Morgan Chase launched blockchain Euro payments back in June 2023, expressing their support for the adoption of blockchain technology.
While Chase Bank has become the second major bank in two weeks to add cryptocurrency support for customers to make credit card payments, the list of American merchants accepting popular cryptos has now surpassed 20,000, according to FCF Pay.
American citizens are already paying for goods and services via crypto across different vendors: credit cards, car shops, bills, traditional banks, and even supermarkets. FCF Pay’s transaction system also allows paying directly from centralized exchanges, while most other blockchain payment processors require connecting a crypto wallet.
On the Flipside
A week ago, Chase Bank released a notice claiming that all crypto transactions would be blocked. “If you’re trying to make payments related to crypto assets, we’ll decline it. If you’d still like to invest in crypto assets, you can try using a different bank or provider instead,” the rather strict customer warning reads.
