BitPay, CoolBitX partner to enable crypto transactions from hard wallet

By Sunniva Kolostyak

Blockchain security company CoolBitX has teamed up with BitPay, the Bitcoin and cryptocurrency payments services provider, in order to integrate its payments platform into CoolWallet S.

CoolWallet S, CoolBitX’s hardware crypto wallet, will be the first of its kind to fully integrate with the open-source JSON Payment Protocol in a move to facilitate the mainstream adoption of cryptocurrency.

The wallet users are now able to spend cryptocurrency on daily transactions with major retailers that support BitPay payments – including AT&T, Twitch, Microsoft and Newegg.

Michael Ou, CEO of CoolBitX said: “This partnership with BitPay is not only a crucial landmark for CoolBitX, but for the wider mainstream adoption of cryptocurrencies as CoolWallet S users are now able to spend their cryptocurrencies on everyday items.

“BitPay is at the forefront of the future of payments and we are honoured that CoolWallet S has become the very first hardware wallet to fully integrate the open source JSON Payment Protocol, further highlighting the fact that CoolWallet S is the most agile and secure hardware wallet for cryptocurrencies. This exciting partnership will allow both CoolBitX and BitPay to drive greater acceptance of cryptocurrency and take the industry to new heights.”

Bill Zielke, CMO of BitPay added: “BitPay is seeing an increased demand for hardware wallets and we recognize that users want to store their cryptocurrencies in many different ways. As an ongoing commitment to accelerate the market adoption of cryptocurrencies, this partnership with CoolBitX enables users to spend directly from their CoolWallet S, making for a simple, easy and secure way to purchase everyday items.

“The future for cryptocurrency looks bright—BitPay has seen a 7.2 per cent growth in Q1 2020 while volume was up 9.1 per cent over the same period in 2019 — further suggesting that the adoption for cryptocurrencies will continue to rise in the months to come.”

CoolBitX’s CoolWallet S was released in 2018 and combines hot and cold storage solutions. It is the first first hardware wallet that allows for Bluetooth-enabled pairing with users’ mobile phones. CoolWallet S is also integrated with Simplex and BANXA, allowing for credit card or direct fiat-to-crypto purchases on the CoolWallet S app, and stores multiple digital assets, including BTC, ETH, LTC, XRP, BCH, ZEN, BNB, and ERC20 tokens.

BitPay works as a payment service that allows businesses to accept payments in cryptocurrency, mainly Bitcoin (BTC) but also supports transactions in BitcoinCash, XRP and ETH and the stablecoins USDC, BUSD, PAX and GUSD, and converts crypto it into fiat for the business.