Canada’s leading mortgage brokerage company Matrix Mortgage Global has announced that it will accept payments in the form of cryptocurrencies in its latest press release on April 8. Clients can now pay for goods and services along with the Mortgage Agent Registration fee via BitPay. Matrix Mortgage Global will facilitate payments using Bitcoin, Bitcoin Cash, Ripple, and Ethereum.
The Founder of Matrix Mortgage Global, Shawn Allen, said that they consider it important to upgrade their payments system by opening their doors to cryptocurrency payment methods. He thinks that as digital currencies are slowly being adopted globally, it is essential to align with the global trends. Blockchain technology and cryptocurrency have the ability to transform the way the mortgage industry typically functions in the international markets. With the addition of the cryptocurrency payment option, Matrix Mortgage Global would be able to reduce the high transaction fee, making payments cheaper, secure and quicker, and also enhance payment transparency.
The mortgage company’s new decision aligns with the Canada Revenue Agency’s opinion that all digital currencies would be treated as barter transactions and can be used to pay for goods and services.
Allen also added that Decentralized Finance ‘DeFi’ has made it possible for transacting parties to interact peer to peer by removing intermediaries. Overall, Matrix Mortgage Global would be able to make the payments process highly efficient for its customers with BitPay’s help.
Meanwhile, Sean Rolland, BitPay’s Director of Product Management, stated that BitPay aims to make cryptocurrency payments “a seamless process.”
Matrix Mortgage Global, since its beginning in 2008, has funded more than $1 billion in mortgages. Based in Toronto, Ontario, Canada, this mortgage brokerage company has won the “Broker Of The Year” award three times in a row. They are an innovative mortgage brokerage using a Solution Based Lending approach to cater to the mortgage-related financial needs of homeowners.
BitPay is an Atlanta-based bitcoin payment service provider founded in 2011 that facilitates Bitcoin and Bitcoin Cash payments services for its merchants. Using the BitPay app, customers can also store, send, receive, and exchange cryptocurrencies.