The first and the largest cryptocurrency by market capitalization, Bitcoin, gets more adoption from reputable companies.
Unified Wholesale Mortage, the US mortgage lender, aspires to include digital assets as a payment option by 2021. Its first adoption in the plan is Bitcoin, though it will subsequently explore the potential of other cryptocurrencies like Ethereum.
Similarly, other prominent companies plan to avail their customers of the use of Bitcoin for payment of products and services. Quorum Holdings, a South African property investment company, and SafeGold, a Canadian jewelry exchange.
United Wholesale Mortage, the Wholesale lender based in Michigan, disclosed its acceptance of cryptocurrency payments.
The firm said that the process would commence in the upcoming months before the end of the year. This implementation will put UWM as the first main US mortgage lender to accept digital assets as a payment option.
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In his speech, the company’s CEO, Mat Ishbia, confessed his firm’s enthusiasm concerning the project. He said that the implementation of their plan is hopefully within the year before others can make similar moves.
Ishbia mentioned that his company would commence its crypto adoption with Bitcoin. Also, he said that there is the possibility of including other digital assets like Ethereum in subsequent moves.
Bitcoin Adoption On The Rise
A similar report disclosed the preparation of Quorum Holdings, a property group based in Johannesburg, to include payments in cryptocurrencies. Through its move, the company will be the first South Africa property investment firm to give its clients an option to pay for their rental deposits.
One of the company’s legal counsels, Saul Mayers, spoke on the security for the recent move. He mentioned that besides Bitcoin, clients could also use Ethereum to make their payments. He said that the success of this operation would bring an expansion of the firm to Cape Town and Johannesburg.
While recounting the advantages of using cryptocurrencies, Mayers noted the possible risks that go with them. He illustrated a scenario where a customer could destroy the property. Furthermore, the price of BTC or ETH could dip.
In this situation, the property owner may not recover the property costs with the rental deposit. Canada is not left out in the recent surge of Bitcoin adoption. For example, SafeGold, a jewelry exchange, now allows payments with cryptocurrencies.
This Ontario-based firm accepts Ethereum and Dogecoin besides the primary digital asset, Bitcoin. The company’s crypto acceptance stretches to the upcoming asset, Safe Titan (STTN), pegged to Binance Coin (BNB). The recent Bitcoin adoption is spreading as more prominent companies accept payment in BTC from their clients.
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One of these companies is AMC Theatres, the US large movie theatre chain. The firm plans to allow ticket sales through the use of the primary digital assets by year-end.
Another company, Philipp Plein, a German fashion brand, is now on the crypto train. The firm accepts payments in 15 different digital assets, including BTC.
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Also, Wellbots, a smart product online retailer, declared its acceptance of cryptocurrencies through its last month’s announcement. This US-based company allows payments in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, DAI, and USD Coin.
Featured image from Pixabay, chart from TradingView.com