Accountancy Firm BKL to Accept Bitcoin to Settle Invoices

In a major development for cryptocurrency adoption, Cambridge-based accountancy firm BKL announced on September 23, 2019, that it would be accepting bitcoin (BTC) as fee payment to settle invoices.

BKL Embraces Digital Money

Spearheading the digital currency adoption race in the U.K., mid-sized accountancy firm BKL declared on September 23 that its clients can now opt to receive invoices in bitcoin. Per sources close to the matter, BKL will use acclaimed automatic payment processing system, BitPay, to settle invoices in the leading digital currency.

As reported by Business Weekly, BKL will invoice its clients with a fiat value and give them the option to settle invoices in bitcoin or bitcoin cash (BCH). BitPay will provide fresh cryptocurrency rates every 15 minutes which will be based on their average price from major regulated crypto exchanges across the globe, the report adds.

Commenting on the development, Jon Wedge, Financial Services partner at BKL, said:

“We are pleased to now offer this option to clients. We support people and businesses that work with cryptocurrencies and blockchain and this move has been driven by demand from our clients.”

Adding:

“It’s a convenient way for many of them, particularly those in the fintech and technology sectors, to buy our services.”

Echoing Wedge’s sentiments was Sonny Singh, Chief Commercial Officer of BitPay. Singh stated that as the number of blockchain-based business ventures continues to grow, the demand for cryptocurrency-based payment options will also witness a steep surge.

BitPay Leads the Way

While myriad crypto ventures around the world have tried to push for the adoption of digital currencies, only a few have tangible success to speak for their efforts. One of such handful crypto ventures is BitPay, which has consistently ranked among the top crypto entities that have championed the crypto cause.

As reported by BTCManager on May 24, 2019, BitPay had entered into a partnership with U.S. telecom giant AT&T to allow customers to pay their mobile bills with bitcoin.

On a more recent note, BitPay partnered with online sports entertainment platform FanDuel to allow NFL fantasy players to use bitcoin to subscribe for their sports app.