BitPay has integrated Solana into its platform, enabling users and merchants to buy, store, send, receive, swap, and spend SOL and Solana-based stablecoins.
Summary
- BitPay, a leading crypto payment processor, has integrated Solana blockchain into its platform.
- Payments from external Solana wallets (Phantom, Solflare, Backpack) are supported, and Solana-based payouts are planned for future updates.
- Major networks like Visa and Fiserv are also leveraging Solana for stablecoin transactions, highlighting its growing adoption in mainstream finance.
In a press release shared with crypto.news, BitPay announced that it has integrated the Solana blockchain into its platform, enabling support for Solana (SOL), USD Coin (USDC), and Tether (USDT).
“The addition of Solana support strengthens our commitment to stablecoin payments by giving users and merchants even faster, lower-cost ways to transact,” said Bill Zielke, CMO of BitPay.
With this integration, users can now buy, store, send, receive, swap, and spend Solana-based assets directly in the BitPay Wallet. Payments can also be made from external Solana wallets, including Phantom, Solflare, and Backpack. Merchants accepting BitPay payments can receive funds without holding crypto, and Solana-based payouts are planned for a future update.
The 1916 Company, a luxury watch and jewelry retailer, is among the first to accept Solana payments through BitPay. CEO John Shmerler cited the network’s efficiency and low fees as key benefits for both customers and the business.
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Major payment networks continue to integrate Solana
Solana is increasingly being integrated into various payment platforms, as its high throughput and low transaction costs enable faster and more efficient cross-border and on-chain payments. Notably, Solana is integrated into Visa’s settlement platform for stablecoin transactions, alongside Ethereum (ETH), with Stellar (XLM) and Avalanche (AVAX) added recently.
Additionally, Fiserv, a global payments technology provider and a Fortune 500 company listed on the NYSE, plans to launch a bank-friendly stablecoin on Solana in the coming months.
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