Possibility to pay with Bitcoin, Etherium and Ripple by Canadian lending company

[Leviathan.007]

The notion that cryptocurrencies are not used as a method of payment is still diminishing, as many companies have recently made it possible to make payments with cryptocurrencies in transactions. One of Canada's largest brokers, Matrix Mortgage Global, recently made it possible to pay with cryptocurrencies such as Bitcoin (BTC), Bitcoin Cache (BCH), Etherium (ETH), Ripple (XRP) and some Stable Coins as a payment method.

Mortgage payment with cryptocurrencies
The company was founded in 2008 and enables customers to receive financial assistance as a mortgage (more than $1.5 billion). The company has advocated for "alternative lending" since its inception, and its latest announcement could be seen as another step in that direction.
Through a partnership with US crypto service provider BitPay, Matrix Global Lending allows all customers to pay for goods and services with cryptocurrencies. That is, Bitcoin, Bitcoin Cash, Ripple, Etherium. However, the announcement did not specify which stable coins the company would use.

Introducing crypto assets aims to expand the company into international markets where accepting credit cards is impractical. In addition to reducing high wages, it will also increase transparency, speed and efficiency.
Matrix Global's plan is in line with the Canadian Revenue Agency, which says "cryptographic assets" can be used to pay for goods and services as a barter transaction.

Increased Acceptance
In addition to Matrix Global Lending, other companies have followed a growing trend to make payments with cryptocurrencies. Perhaps the most well-known name for doing so since the beginning of the year is Elon Musk’s Tesla. After the widespread purchase of bitcoin, Tesla announced that it would allow bitcoin to be paid for in its cars.
It should be noted that the United States is at the forefront of this process, including some of the most popular sports leagues in the country. The National Basketball Association has at least two representatives who accept payment by cryptocurrencies.

The Sacramento Kings have been doing this since 2014, and the club's president said earlier this week that all employees could receive their paychecks with crypto. Dallas Mavericks, on the other hand, also enabled payment for goods and tickets in Dogecoin currency.


Source of the article: https://cryptopotato.com/canadian-broker-enables-bitcoin-ethereum-and-ripple-payments/

[Poker Player]

This is good news. At the moment in this cycle we are in the consolidation phase as a store of value. News like this, or Tesla and others accepting payments in Bitcoin point to the fact that in the future it could also be generalized as a means of exchange, but we will have to see if LN or some other method can solve the problem of micropayments.

[avikz]

Isn't Canadian Central Bank issued a banking ban on crypto few years back?? Or is it incorrect information? Can anyone confirm?

If there is a banking ban on cryptos in Canada, I am not sure how this company will accept payments in cryptocurrencies! The borrowers should not land into legal troubles later on! That might create more troubles for cryptos in Canada instead of helping in adoption.

If it finally becomes a reality, then it will be great in terms of mass adoption - another strong push!

[Fesatmas]

I hope it will be a pilot company for other companies in the world. thereby breaking all negative stigma regarding payments via cryptocurrency. good news keeps coming, let's gather, because it is possible that the closest company in our home has finally heard this news and is interested in following in the footsteps of the Global Mortgage Matrix ..
oh well, as a hearty meal I found a new superhero player has officially been replaced.

picture taken from one of the exchanges called Persona Exchange which was founded by some of their fans, one of the Tokens: Elon Musk FanToken (EMF, Justin Sun FanToken (JSF)

[goldade]

This is an interesting piece of news especially for the crypto community. One of the major limiting factor in the adoption of crypto in the mainstream world is the belief that cryptocurrencies can not be used as a means of payment.
Now, quite a lot of companies are accepting bitcoin and other cryptocurrencies just like tesla and this broker company.
Trust me, quite a lot of companies will follow in this footsteps and very soon, nearly all companies will adopt bitcoin and other cryptocurrencies in their payment method.

[bobyhodob]

It is very interesting that my idea is that if I work in private, I might also be happy if I receive a salary from cryptocurrency coins because part of the salary is for investment and part of the proceeds for daily needs

[aysg76]

Isn't Canadian Central Bank issued a banking ban on crypto few years back?? Or is it incorrect information? Can anyone confirm?

If there is a banking ban on cryptos in Canada, I am not sure how this company will accept payments in cryptocurrencies! The borrowers should not land into legal troubles later on! That might create more troubles for cryptos in Canada instead of helping in adoption.

If it finally becomes a reality, then it will be great in terms of mass adoption - another strong push!

I don't think that bank of Canada has put ban on Bitcoin and neither it has gained legal tender status in Canada but still you can trade in Bitcoin thorough different Exchanges like bitbuy.Although the Canadian central bank is in favour of CDBC rather than these cryptocurrencies.This was the statement of Deputy Governer of BoC(Bank of Canada) Timothy Lane:

The recent spike in their prices looks less like a trend and more like a speculative mania — an atmosphere in which one high-profile tweet is enough to trigger a sudden jump in price,” Lane said.

For further details you can check this link: Timothy Lane official statement on cryptocurrencies

He further says that they don't foresee these cryptos as fear for centeral system at the current period but they have plans for future like CDBC.So at this time you can trade or invest in Bitcoin in Canada that's why this company is accepting crypto payments and it's good for mass adoption for Bitcoin.It is becoming mainstream these days and soon the banking sector will also provide services to customers crypto related as many have started to do so.

[seoincorporation]

I think they will regret this idea because in the long term the cryptos will go up and each payment they give with cryptos will be like losing money.

Just looks at the small business who starts accepting bitcoin some years ago, they now are millionaire, but if a business decides to pay to their customers or to their providers with bitcoin, then it will represent a loss in the future. Just think about it

[bosede1]

This is a good one and wished to see more of these big companies accepting Cryptocurrency as a means of payment for transactions made. The government also should look into this new innovation and rethink the decision taken

[fiulpro]

Many companies are holding bitcoins and many of them are looking forward to investing in them. So considering the people who are going to pay in bitcoins for them would be a seperate category of investment in that particular crypto. This would be beneficial for not only them but also for the people who wish to have more methods of payments and sometimes it's just easier in cryptos.
I do think that Mortgage payments would become even more easy with bitcoins for foreign nationals, for people who are investing in real estate and find it really difficult to pay huge sums in the banks and wait for the processing time. Then also sometimes the transaction does not go though. At the same time it would be much easier to track!!! There will be an online copy of all the transactions available making the system more transparent and non-corrupted.

[Husires]

They accept payment using Bitpay meaning that they transfer it to cash directly.
They are using it to expand their customer base and add more cash. It does not care whether it is from Bitcoin or from any currency
if customer base of any currency increases, they will accept it.

[Asuspawer09]

 It's kinda nice actually to have this kind of payment option paying with a cryptocurrency might not be ideal for now but it's a good thing to have especially because companies are also adapting to it.

That means that the companies could also pump the market price of bitcoin or maybe they will planning to go in transactions where the only crypto is allowed and at the same, they invest in it.

The only thing is companies holding a big chunk of bitcoin could result in a lot more manipulations in the market but we all expect it and know the risk when we invest in bitcoin after all so it's a good thing that companies are considering cryptocurrency even though it is risky and not supported by the government.

[blockman]

It is very interesting that my idea is that if I work in private, I might also be happy if I receive a salary from cryptocurrency coins because part of the salary is for investment and part of the proceeds for daily needs

This is idea is very likely in the nearer future. I think there were companies already that have thought of it and have done it but they ask their employees first if they want to receive their salary in bitcoin but especially for those crypto and blockchain related companies, it's their main payment option.

[DapanasFruit]

One of the biggest reasons why people prefer to look cryptocurrency as a store of value and not really as a replacement of paper or fiat money is because there is no critical mass of people that are using them everyday for common purchases of products and services. Once we changed this perceived bias, we can see cryptocurrency really rise to its intended use - that of becoming the preferred medium of exchange between parties. And the good news is that this bull run and pumping of cryptocurrency has become an effective impetus for companies and organizations to adopt cryptocurrencies the way it should be.

[pooya87]

What usually concerns me after reading news like this is about what would happen when one of these centralized altcoins pulled a scam that led to losses by these companies. For example what if one of them did another rollback with either another 51% attack or simply by reversing their centralized database (aka blockchain) just like they did in the past, and all 3 have already done it too (bcash with 51% attack, shetereum by a massive roll back and ripple by simply undoing the transaction)!!!
It would be a field day for the media attacking cryptocurrency as a whole that includes bitcoin just because these centralized shitcoins pulled something like that.

[Kayum10029]

Payment with Bitcoin cryptocurrency is actually an important piece of good news.  Amazon PayPal Tesla and other expensive car companies are going to establish their business platform through Bitcoin.  The Bitcoin market has skyrocketed just as the good news spread.  So any companies can pay their workers through Bitcoin.

[Gozie51]

This can't be a news that won't make adopters happy. The whales and institutional investors are keeping the tides high and bitcoin is starting to get into the mainstream financial system. Soon some government institutions are going to start making payment of salaries through bitcoin, don't doubt because bitcoin is unstoppable.

[Fesatmas]

It is very interesting that my idea is that if I work in private, I might also be happy if I receive a salary from cryptocurrency coins because part of the salary is for investment and part of the proceeds for daily needs

true, because this method becomes an alternative in managing your finances in stages, so some of the salary that can be saved can be saved in crypto. that way we can make some simple calculations of the total salary that you get a few percent of it is your right and obligation to immediately save it in crypto form. the same as what I've been living for several years, and this method is very effective to support long-term needs.

[hector3115]

This is probably a good possibility, but how many people will want to take advantage of it ?

[Momoamzad]

This is really a good news for us.  So it is open to transaction going  through out cryptos. As like TESLA. It can make world easy to  transaction with each other. Many countries government doesn't support crypto . I think these great news will affect them and they will declared crypto as legal .