The online payments provider Coinbase announced today that it will begin accepting Bitcoin, Ethereum, LiteCoin and other digital currencies.
Coinbase says it is adding these currencies to its Bitcoin, Bitcoin Cash, Litecoins, and Ethereum wallets.
“We believe digital currencies have the potential to change the world and bring new opportunities for consumers, businesses, and governments,” said CEO Patrick Byrne in a statement.
“With these currencies, we are enabling consumers and businesses to transact with one another securely and securely without any third-party intermediaries.
They also offer the benefits of peer-to-peer transactions that make the internet so useful, like instant payments, and the ease of trading currencies online.”
Bitcoin has surged in value over the last few months and has become the most widely used digital currency in the world, with over $1 trillion in market cap.
Bitcoin is the digital currency that uses a peer- to-peer network to operate without a central authority.
It is the preferred method of payment because it is secure, fast and decentralized.
In recent years, it has also seen a surge in adoption, with the total market cap of all cryptocurrencies surpassed $500 billion in March 2018.
Bitcoin has a maximum value of $15,000.
The move is expected to make it easier for consumers to buy and sell digital currencies online, as they can now easily use their own wallets to do so.
Users will also be able to pay for goods and services using the new currency, according to the announcement.
CoinBase is currently the largest cryptocurrency wallet provider and payment platform in the US, according the company.
Byrne’s announcement comes as the financial industry has been grappling with the ongoing rise of cryptocurrencies.
In August, the US Securities and Exchange Commission approved the first Bitcoin ETF.
In February, the Federal Reserve said it would be exploring the use of cryptocurrencies in order to “support the financial stability of the United States and other global economies.”
The SEC also said it was considering an option to require exchanges and payment processors to conduct transactions in Bitcoin, including for payments in fiat currencies.