TORONTO, April 8, 2021 /CNW/ - Matrix Mortgage Global, Canada’s 3x Broker Of The Year, today announced the company is accepting Bitcoin, Bitcoin Cash, XRP and ETH, as well as several dollar-pegged stable coins, for payment of goods and services including Mortgage Agent Registration cost using BitPay. The ability to accept cryptocurrency expands Matrix Mortgage Global into international markets where accepting credit cards is not practical. Matrix Mortgage Global benefits by adding cryptocurrency to its payment options while reducing high fees increasing payment transparency and efficiency. This is in line with the Canada Revenue Agency’s view that digital currencies, including cryptocurrencies can be used to pay for goods and services and shall be treated as a barter transaction.
“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.” said Shawn Allen, Founder at Matrix Mortgage Global “Decentralized Finance ‘DeFi’ removes intermediaries making it possible for transacting parties to interact peer to peer.”
“Matrix Mortgage Global realizes the potential for cryptocurrency and block chain technology to transform the mortgage industry, making payments faster, more secure, and less expensive on a global scale,” said Sean Rolland, Director of Product Management at BitPay. “Our goal is to make accepting cryptocurrency a seamless process.”
Blockchain uses distributed ledger technology, which is essentially an open, online spreadsheet. A major advantage is that blockchain provides incredible transactional transparency as every transaction is verified, recorded and stored. This process creates highly efficient services and an overall better experience for Matrix Mortgage Global customers.
About Matrix Mortgage Global
Matrix Mortgage Global has championed alternative lending in Canada since 2008. Together with a strong technology infrastructure and innovative lending product suite, Matrix Mortgage Global plays a critical role in educating and financing Canadian borrowers, of which most are impacted by the 2016 & 2018 Government-Sanctioned Stress-Test Regulations.
Founded in 2008, Matrix Mortgage Global provides Canada-Wide mortgage financing with a Solution Based Lending approach. With over $1.5B in mortgage originations, Matrix has revolutionized the accessibility of alternative and private funds offering a diverse suite of mortgage and investment solutions. An active member of the Mortgage Professionals Canada, Matrix advocates for Canadians borrowers at all levels of government.
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency and fiat, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Visa® Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.
The BitPay Visa® Prepaid Card is issued by Metropolitan Commercial Bank, member FDIC, pursuant to a license from Visa, U.S.A. Inc. “Metropolitan” and “Metropolitan Commercial Bank” are registered trademarks of Metropolitan Commercial Bank © 2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule if any.
SOURCE Matrix Mortgage Global