The use of cryptocurrencies as a method of payment is still not accredited; however, many companies are lately enabling this method. In Canada, Matrix Mortgage Global, the Canadian largest broker, has introduced Bitcoin, Bitcoin Cash, Ripple, stablecoins, and Ethereum in their payments.
Matrix Mortgage Global was founded in 2008 to help clients to buy homes. Since its founding, the company has always championed alternative lending. The incorporation of cryptocurrencies is the latest move by the company.
Matrix Mortgage Global will partner with the US-based crypto BitPay to enable customers to pay for services by the use of the popular crypto assets. Those assets can either be Bitcoin, Ripple, Bitcoin Cash, Ethereum, or any other stablecoins.
The use of digital assets by the company will speed its expansion into the international markets where credit cards cannot be relied upon. Besides, payment through cryptocurrencies will be more transparent, faster, and efficient at the same time charging a low transaction fee.
The company says that the initiative is in line with Canada Revenue Agency. The company insisted that crypto-assets should be treated as a barter transaction in the payment of goods and services.
MMG Founder Shawn Allen noted that adapting cryptocurrency will make the company align itself with the global shift toward digital currency.
“As an innovator in the mortgage industry, we decided to accept cryptocurrency to better align ourselves with the shift towards the global adoption of digital currency. Blockchain technology with the use of smart contracts is going to change the way mortgages are processed.”
Apart from MMG, other companies which include Tesla, have introduced crypto payments to enable clients to make payments. In the U.S., the adoption of cryptocurrency is becoming a forefront trend with popular sports such as NBA representatives accepting crypto payments.
Sacramento King’s chief has announced that they could start paying employees in Bitcoin. Dallas Mavericks is also taking the same direction, the club has announced that it will enable tickets and merchandise purchases to be made using the popular meme coin-Dogecoin.