Blockchain payment technology provider BitPay has announced the rollout of Dogecoin payments for merchants and consumers.
Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees. It is a decentralized, peer-to-peer digital currency with a $6 bn market cap that enables customers to easily send money online. It is an ideal payment method with a large supply and low price facilitated efficient micro-tipping content.
BitPay enables businesses to accept cryptocurrency as a payment form without having to buy, own or manage crypto. An early adopter of cryptocurrency, the Dallas Mavericks will be the first to accept Dogecoin. For almost 2 years, the Dallas Mavericks have been accepting Bitcoin as a payment method for game tickets and merchandise. With this announcement, Mavs Fans for Life (MFFLs) can now use Dogecoin to buy tickets and merchandise online, making Mavs merchandise more accessible to MFFLs.
“The Dallas Mavericks are a long-time enthusiast of cryptocurrency, opening up new opportunities for the team to sell tickets and merchandise to its global MFFL fan base. BitPay believes that with continued cryptocurrency adoption, the industry is reaching an inflection point that will forever change consumer confidence, trust and pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds,” said Stephen Pair, CEO of BitPay.
The Mavs use BitPay to process all cryptocurrency purchases, including tickets and merchandise with all top cryptocurrencies, including BTC, ETH, USDC, GUSD, BCH, PAX and BUSD and now DOGE. The crypto acceptance ability expands a business’ sales opportunity into international markets where accepting credit cards is impractical while reducing high fees and increasing payment transparency and efficiency. The potential global market is huge, and along with the market capitalization for crypto approaching a trillion, the market opportunity for crypto is considered ideal.
“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important, earth-shattering reason because we can! Because we can, we have chosen to do so. We have chosen to do so because sometimes, in business, you have to do things that are fun, engaging and hopefully generate a lot of PR. So we will take Dogecoin today, tomorrow and possibly forevermore. For those of you who would like to learn more about Dogecoin, we strongly encourage you to talk to your teenagers who are on tik tok and ask them about it. They will be able to explain it all to you,” said Dallas Mavericks owner, Mark Cuban.
BitPay builds powerful, enterprise-grade tools for crypto acceptance and spending. The FinTech is developing blockchain payment technology to transform how businesses and people send, receive, and store money worldwide. Recently, BitPay announced support to add BitPay Card to Apple Pay.