ZenLedger Teams With BitPay for Crypto Payments

Cryptocurrency tax software and blockchain analytics firm ZenLedger is partnering with crypto payment services provider BitPay to offer digital assets as payment options for goods and services.

By adding cryptocurrency to its payment options, ZenLedger is able to lower transaction fees while also increasing transparency and efficiency, according to a press release on Wednesday (Oct. 5).

“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,” Larsen added.

According to the press release, ZenLedger’s dashboard displays transaction information across thousands of exchanges and cryptocurrencies, including non-fungible tokens (NFTs), decentralized finance (DeFi) and digital wallets. It provides the tools for accounting, taxation and audits.

A report by PYMNTS and BitPay showed that interest in cryptocurrencies varies with income. More than 43% of the respondents who described themselves as living paycheck to paycheck with difficulty paying their bills said making payments was their main motivation for dabbling in digital currencies, whereas as roughly 60% of those living comfortably said they did so to as an investment to make money.

By age group, the percentage reporting to be very or extremely likely to buy crypto in the next year: boomers and seniors, 7%; Gen X, 28%; Bridge Millennials, 38%; Millennials, 42%; Gen Z, 27%.

See also: PYMNTS Report: 60% of Well-Off Consumers Still Buy Crypto as Investment