Cryptocurrency payments platform BitPay announced on Wednesday the integration of WalletConnect into the BitPay Wallet app. BitPay reported that BitPay Wallet app users have direct access to the decentralized exchange, decentralized games, and all the Decentralized Finance (DeFi) space has to offer.
According to BitPay, BitPay Wallet app users may send or receive Ethereum tokens DAI and WBTC utilizing WalletConnect. Payment processing support for DAI and WBTC is expected this quarter. WalletConnect is described as an open-source protocol for connecting decentralized applications (DApps) to mobile wallets by scanning a QR code and uses end-to-end encryption to allow users to interact securely with any DApp from a smartphone.
While sharing more details about the integration, BitPay CEO and Co-founder Stephen Pair stated:
“As the use of DeFi protocols and DApps continues to gain steam, we wanted to offer BitPay users a safe, secure way to interact with them. The WalletConnect integration gives BitPay users a place where they can both store their assets as well as participate in the growing DeFi space.”
Founded in 2011, BitPay claims to be a pioneer and leader in global blockchain payments and supports payments from Bitcoin, Bitcoin Cash, XRP and ETH, as well as four dollar-pegged stablecoins, USDC, GUSD, PAX, and BUSD.