E-Crypto News Talks to BitPay on DeFi Tokens and Payments

Decentralized Finance (DeFi) tokens have taken everyone by surprise. The use of tokens in this form and manner has become quite popular within and outside the crypto space.

So far, over$15 billion has been locked up in DeFi tokens.

DeFi tokens have wonderful capabilities. We can do things we never thought of before.

The many issues that have surrounded centralized finance are totally avoided as far as DeFi is concerned.

Coinbase 3

We have reached a point within the crypto space where ideas now run themselves with no need for people to drive them forcefully.

The reason for this is those new financial paradigms that never existed before now exist.

The crypto space itself is on the cusp of exploding because of innovation.

However, with all the wonderful ideas, there had been one problem with DeFi tokens: exchange.

While the DeFi buffs have been able to find ways and means to exchange their tokens, most of the newcomers to DeFi markets have had to struggle to find those ways.

Things have changed as the premier cryptocurrency payments company BitPay has found one way around the problem of exchanges and DeFi Tokens.

E-Crypto News caught up with Bill Zielke, BitPay’s CMO about this.

Here is what he had to say.

E-Crypto News Talks to BitPay on DeFi Tokens and Payments 1

Bill Zielke, CMP BitPay

E-Crypto News:

  1. Congratulations on the WalletConnect integration! How can users use decentralized (DeFI) tokens to pay for stuff? 

Because BitPay has integrated with WalletConnect, users can interact securely with any DApp right from their mobile phone, making WalletConnect wallets a safer choice compared to desktop or browser extension wallets.

Soon BitPay will enable DAI and WBTC as payment options for purchases for thousands of its merchant sites.

E-Crypto News:

  1. Do you think there’s a future for decentralized (DeFi) tokens? What role will they play in the crypto space? 

We see significant growth in DeFi space and new DApps surfacing to engage and service customers.

We believe these and other types of decentralized services are here to stay and deliver customer value.

Our customers are a driving force in our decision to adopt WalletConnect and support DAI and WBC.

E-Crypto News:

  1. Do you think we are on the edge of the mass adoption of cryptocurrencies? Please, tell us the reasons for your answer.  

Based on the number of new wallets, significant increase in crypto purchases and use of crypto as a method of payment, we believe all indications point to a mass growth phase towards mainstream adoption.

E-Crypto News:

  1. Do you think there are other blockchains with decentralized finance (DeFi) capabilities that will one day upstage the Ethereum blockchain? Please tell us the reasons for your answer. 

The whole blockchain space is still evolving and expanding rapidly.  While we don’t speculate on what the exact future will look like, we are encouraged by the massive market cap increases of the top cryptos, including ETH.

We intend to be laser-focused on building and delivering financial solutions that make it easy for anyone to buy, store and spend crypto.

E-Crypto News:

  1. What are your thoughts on Ethereum (ETH 2.0) staking? 

We are and will continue to watch ETH 2.0 closely and hope to see its value come to fruition.

E-Crypto News:

  1. What are your plans for 2021? 

We plan to continue innovating including enabling new businesses with our payment processing and mass payout solutions.

We also plan to increase adoption of the BitPay Wallet apps and use of the BitPay Card.  At the same time, we will continue to add support for more coins.

E-Crypto News:

  1. Do you have anything special lined up for the cryptospace? Care to spill the beans? 

We are always working on new things. Soon, we will announce another new partnership where BitPay Wallet app holders can buy and exchange tokens right from inside the BitPay Wall app as well as easily and quickly change one crypto for another.

E-Crypto News:

  1. In the future, will BitPay develop its decentralized infrastructure? Or will you guys be working with third-party infrastructure all the way? 

We are constantly evaluating products and services to meet the needs of our customers and will continue to monitor the DeFi space based on demand, opportunity and fit.  As we are able to share more, we will be back in touch.

E-Crypto News:

  1. How do merchants integrate with the WalletConnect payment mechanisms?

WalletConnect is an open source protocol for connecting decentralized applications to mobile wallets with QR code scanning or deep linking.

A user can interact securely with any DApp from their mobile phone, making WalletConnect wallets a safer choice compared to desktop or browser extension wallets.

As of yesterday, BitPay enabled the BitPay Wallets app with Wallet Connect.  Now, users can interact securely with any DApp. Soon BitPay will enable DAI and WBTC as payment options for purchases for thousands of its merchant sites.

E-Crypto News:

  1. What incentives do merchants have to accept decentralized finance (DeFi) tokens? 

As BitPay adds new cryptocurrencies to its service, merchants automatically are able to accept them. Additionally, integration is not required.

E-Crypto News:

  1. What are your thoughts on cryptocurrency regulation in America?

Regulation is necessary to move the crypto space mainstream so all types of organizations can benefit from the low-cost, high-speed transfer of digital assets all around the globe.

E-Crypto News:

  1. If you had three wishes and a Genie that could make them come true what they are for the crypto space?

2021 is the year government fully and completely embraces digital assets

Top ecommerce merchants enable customers to pay with bitcoin and other cryptos

We surpass our prediction that bitcoin will hit 45,000 in 2021.

E-Crypto News Talks to BitPay on DeFi Tokens and Payments 2
blank
About the author

Christopher is the Blockchain/DeFi Editor for E-Crypto News he also writes frequently about Crypto Gaming and Gambling. He is the author of the book "Profitable Cryptocurrency Gambling and Gaming: A Complete Guide." A content developer, Crypto-Enthusiast, and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

Related Posts

blank

E-Crypto News Executive Interviews


blank

bitcoin
Bitcoin (BTC) $ 33,867.00
ethereum
Ethereum (ETH) $ 2,162.01
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 302.94
cardano
Cardano (ADA) $ 1.21
xrp
XRP (XRP) $ 0.609035
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.195029
polkadot
Polkadot (DOT) $ 13.57
binance-usd
Binance USD (BUSD) $ 0.999557
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 33,867.00
ethereumEthereum (ETH)
$ 2,162.01
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 457.40
litecoinLitecoin (LTC)
$ 125.61
bitcoinBitcoin (BTC)
28.688,23
ethereumEthereum (ETH)
1.831,41
tetherTether (USDT)
0,847085
bitcoin-cashBitcoin Cash (BCH)
387,46
litecoinLitecoin (LTC)
106,40
bitcoinBitcoin (BTC)
24,602.17
ethereumEthereum (ETH)
1,570.56
tetherTether (USDT)
0.726435
bitcoin-cashBitcoin Cash (BCH)
332.27
litecoinLitecoin (LTC)
91.25

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
blank
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020
KuCoin hackers steal $150 million
KuCoin Exchange Hacked But Insurance Will Cover The Stolen $150M
September 29, 2020

Blockchain/Cryptocurrency Questions and Answers

Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021
blank
What Is Plethori Platform And How Does It Work?
June 12, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin33,826 0.15 % 3.78 % 7.73 %
Ethereum2,156.1 0.22 % 3.78 % 15.04 %
Tether1.000 0.12 % 0.18 % 0.14 %
Binance Coin302.79 0.47 % 4.08 % 0.13 %
Cardano1.210 0.27 % 2.19 % 3.35 %
XRP0.6071 0.37 % 1.54 % 2.66 %
USD Coin0.9997 0.22 % 0.21 % 0.09 %
Dogecoin0.1949 0.04 % 1.09 % 11.48 %
Polkadot13.57 0.92 % 4.82 % 12.93 %
Binance USD0.9993 0.25 % 0.46 % 0.53 %

bitcoin
Bitcoin (BTC) $ 34,202.00
ethereum
Ethereum (ETH) $ 2,136.45
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 296.29
cardano
Cardano (ADA) $ 1.20
xrp
XRP (XRP) $ 0.595887
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.196236
polkadot
Polkadot (DOT) $ 13.26
binance-usd
Binance USD (BUSD) $ 1.00