Federal Reserve Official Addresses Bitcoin

Late last week, BitPay, a leading provider of cryptocurrency payment services, announced that U.S. users of its prepaid debit card, which allows users to make purchases using cryptocurrencies, can add their card to the digital wallet of a major U.S. technology firm’s mobile payment application to enable secure in-store, app and online purchases using cryptocurrencies. A press release noted that BitPay cardholders would also soon be able to use the digital wallets provided by two other major technology firms. Also last week, a global provider of digital marketing promotions announced a new reward program that provides users with a gift card that enables the recipient to receive bitcoin. The cardholder can deposit the bitcoin in an existing cryptocurrency wallet, or set up a new one, with instructions from the provider.