Metacask, an online marketplace which allows users to buy, sell and collect spirits via the blockchain, has teamed up with crypto payment processor BitPay.
The aim here is to make it simple and secure to use cryptocurrencies on the former’s marketplace when buying any of the rare spirits that are available via auction or exclusive listing.
Every Metacask sale comes with a digital deed that proves ownership of an asset, as well as important provenance statistics such as when and where a cask or bottle was created and even when it was last tested by distilleries or experts.
This is stored permanently on the blockchain, creating a trail of ownership that is audited and timestamped.
With the BitPay partnership, Metacask says that it is making the premium spirits market even more accessible to those using cryptocurrencies. It will also soon support credit card payments and currently enables customers to create an account using social logins from Facebook and Google.
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Rob Hollands, CEO at Metacask, says: “We are delighted to partner with BitPay as part of our ongoing strategy to digitise the sale and ownership of premium spirits and make the market more accessible for all.”
“Metacask makes trading investor grade spirits secure, quick, and verifiable, using NFTs on the blockchain to prove and track ownership. Our goal is to deliver transparency in these investments’ provenance, possession, and valuation.”
“The days of slow paper trails are history and the BitPay partnership only advances our goal to make the industry more efficient and accessible. Customers buying through Metacask own the digital deed of a physical cask or bottle, meaning no middlemen, no brokers, and no opportunities for admin errors, missing assets, or duplicate sales.”
“Now with the addition of BitPay on our platform, we’re bringing an additional layer of trust to the market which was previously lacking.”
US-based BitPay supports coins including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), Polygon (MATIC), Apecoin (APE), four USD pegged stable coins DAI, GUSD, USDP, and USDC), and one Euro pegged stablecoin (EUROC).
And also more than 100 different crypto wallets and exchanges including BitPay, Coinbase, Exodus Wallet, Ledger Wallet, Trust Wallet, Electrum Wallet, Blockchain Wallet, Metamask, Gemini Wallet, Kraken, and BRD Wallet.
Merrick Theobald, Vice President of Marketing at BitPay, says: “Our goal is to make accepting crypto a seamless process and increase adoption as we believe crypto is the future of payments.”
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