Chase Bank Adds SHIB, XRP Among Others for Mortgage Payments

SHIB, XRP, BTC, and BNB fans are now able to cover their card and mortgage payments with their favorite crypto.

Girl on a new house looking at a Shib token, shiba inu looking outside from the house from a window.
Created by Kornelija Poderskytė from DailyCoin
  • FCF Pay joins forces with Chase Bank to allow crypto payments for bills.
  • BTC, SHIB, ETH, and XRP are among the accepted cryptos in the bill service platform.
  • A week ago, FCF Pay shook hands with HSBC, another banking heavyweight.

The Canadian blockchain payments processor FCF Pay has made a major impact on crypto adoption worldwide. Starting today, all Chase Bank customers will be able to pay their credit card bills, loans, and even mortgage payments in their favorite cryptocurrencies.

20,000 USA Merchants Welcome Crypto: The New Norm?

The groundbreaking move includes but is not limited to the following large market capitalization cryptocurrencies: Bitcoin (BTC), Ether (ETH), Shiba Inu (SHIB), XRP (XRP), Dogecoin (DOGE), BNB (BNB), as well as the most popular stablecoins like Tether (USDT) and USD Coin (USDC).

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In an email to Chase Bank, DailyCoin clarified that the firm’s stance on crypto has not changed. While FCF Pay processes payments in crypto, final settlements are made to Chase in fiat via an off-ramp solution.

“Chase does not accept payments for mortgages, loans and credit cards in cryptocurrencies. As the FCS tweet noted, the company claims that they settle payments in fiat rather than in crypto. We have no affiliation with this company”, – explained Justin K. Page, Communications VP for Chase Bank.

Chase Bank belongs to JP Morgan Chase, one of the leading banking corporations. JP Morgan Chase launched blockchain Euro payments back in June 2023, expressing their support for the adoption of blockchain technology.

While Chase Bank has become the second major bank in two weeks to add cryptocurrency support for customers to make credit card payments, the list of American merchants accepting popular cryptos has now surpassed 20,000, according to FCF Pay.

American citizens are already paying for goods and services via crypto across different vendors: credit cards, car shops, bills, traditional banks, and even supermarkets. FCF Pay’s transaction system also allows paying directly from centralized exchanges, while most other blockchain payment processors require connecting a crypto wallet.

On the Flipside

  • A week ago, Chase Bank released a notice claiming that all crypto transactions would be blocked. “If you’re trying to make payments related to crypto assets, we’ll decline it.  If you’d still like to invest in crypto assets, you can try using a different bank or provider instead,” the rather strict customer warning reads.

Why This Matters

Crypto adoption is known to be put on afterburners during bearish market conditions.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.