Bitcoin Adoption Continues: UWM, Quorum Holdings, and SafeGold Plan to Accept it as a Payment Method
The US mortgage lender – United Wholesale Mortgage – intends to accept cryptocurrencies as a payment method by the end of 2021. While the company would first adopt Bitcoin, it would explore other digital assets such as Ethereum shortly after.
Additionally, the South African property investment firm – Quorum Holdings – and the Canadian jewelry exchange – SafeGold – also vowed to enable clients to use the primary cryptocurrency as a means of payment.
The First American Mortgage Lender to Allow Crypto Payments
The Michigan-based wholesale lender – United Wholesale Mortgage – revealed its plans to accept digital assets for payments in the upcoming months. If it indeed does so, UWM will become the first major US mortgage lender to adopt virtual currencies as a payment method. Mat Ishbia – the CEO of the firm – commented:
“We’re excited that hopefully (this year) we can actually execute on that before anyone in the country.”
The top executive acknowledged that the firm would start its cryptocurrency endeavor with Bitcoin. He did not rule out the possibility of adding other virtual assets such as Ethereum at a later stage:
“I think we’re starting with Bitcoin, but we’re looking at Ethereum and others. We’re going to walk before we run, but at the same time, we are definitely a leader in technology and innovation and we are always trying to be the best and the leader in everything we do.”
Quorum Holdings And SafeGold Also Joined The BTC Bandwagon
According to another report, the Johannesburg-based property group – Quorum Holdings – would become the first South African company in the field to allow customers to pay their rental deposits in cryptocurrencies. Saul Mayers – legal counsel at the firm – noted that apart from Bitcoin, tenants would also be able to employ Ethereum as a payment method, highlighting the security of the operation:
“Depending on how it works, we will expand to other properties in both Joburg and Cape Town. Tenants may use Bitcoin or Ethereum to secure their leases, knowing that their crypto will also be held on a safe, trusted platform.”
Even though Mayers praised the merit of the digital assets, he warned that dealing with them hides its risks. For example, a tenant could damage the property. At the same time, the value of BTC or ETH could go down, meaning that the owner may not be able to use the rental deposit to recover these costs.
Canada does not fall behind in terms of bitcoin adoption, either. As reported, the Ontario-based jewelry exchange – SafeGold – added not only the primary digital asset to its payment options but also Ethereum (ETH) and Dogecoin (DOGE). It is worth noting that the company plans to accept even the upcoming cryptocurrency SafeTitan (STTN), which is pegged to Binance Coin (BNB).
Prominent Companies Accepting Bitcoin Payments
Firms allowing their customers to pay in bitcoin are popping up quite often as the list consists of some well-known names.
The freshest example came from the large US movie theater chain AMC Theatres. The organization’s CEO – Adam Aron – revealed that people would be able to buy tickets via the primary cryptocurrency by the end of 2021. After the announcement, AMC’s shares increased by more than 4%.
The German fashion brand – Philipp Plein – also joined the bandwagon by enabling its clients to purchase products in 15 digital assets, with bitcoin being one of them. The founder and Chief Executive of the firm – Philipp Patrick Plein – admitted he is a keen supporter of digital assets and a hodler.
In its turn, the US-based smart product online retailer – Wellbots – announced last month it would accept Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) among the popular stablecoins USD Coin (USDC) and DAI.
In April, one of America’s oldest wine sellers – Acker – granted its clients the option to pay in virtual assets for bottles of fine wines. John Kapon – the Chairman of the New York-base corporation – explained that customers could employ some of the most popular cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and Litecoin.
He pointed out that Acker’s clients are mainly wealthy and influential people who are predominantly interested in cryptocurrencies. With this initiative, they may distribute large sums of digital assets to enjoy or invest in fine wines.