Under a new agreement, crypto tax software service ZenLedger will now be able to accept a range of cryptocurrency payments via the assistance of BitPay.
BitPay will now enable ZenLedger to offer “end to end functionality” for global crypto traders as more consumers are clamouring for an increase in crypto payment acceptance.
A PYMNTS report found that 56% of consumers want to purchase crypto, with 40% wanting to use crypto as a payment method.
“As a brand designed to support traders and those on the cutting edge of Web3 innovation, the decision to accept crypto payments using BitPay was easy,” said Pat Larsen, CEO and Co-Founder of ZenLedger.
“Our ultimate goal is to always facilitate the crypto experience for our users in order to save time and money. That means everything from tracking their transactions, to offering them the chance to use those funds for our services.
“We believe in the long-term growth and innovation in the industry and so this is the next step in making things easier for our customers.”
ZenLedger will now be able to accept a multitude of cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and more. The blockchain analytics firm states that this new payment option will help reduce transaction fees whilst also increasing payment transparency and efficiency.
BitPay is aiming to eliminate fraud within crypto transactions, reduce the cost of payment processing and enable borderless payments.
Merrick Theobald, Vice President of Marketing at BitPay, added: “As the leading crypto tax software, ZenLedger is filling a need for consumers who want to buy, invest and spend crypto alongside other investment vehicles and still keep track for accounting and tax purposes.
“Our goal at BitPay is to make accepting crypto for ZenLedger a seamless process and to help promote crypto adoption as we believe crypto is the future of payments.”