U.S. citizens can now pay for some Bitcoin passport services.
Peninsula Visa will partner with Coinbase Commerce to offer this payment option.
Although this is a first in the U.S., Venezuela had already experimented with paying for passports in BTC.
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Peninsula Visa, a U.S. passport and visa issuing company, now accepts payment in Bitcoin Evolution for some of its services. According to a press release, the company will allow its customers to pay for passport renewal, name changes and a second passport, all through cryptography.
U.S. citizens can now pay for certain passport services with Bitcoin. Peninsula Visa announced on November 11th the change of its accepted payment methods.
Anticipating an increasingly digital post-coronavirus world, the company describes the service as „the right move at the right time“.
Peninsula Visa becomes the first U.S. shipping service to accept Bitcoin
The method of payment in Bitcoin will be provided by Coinbase Commerce. Although the Coinbase payment platform supports alternative cryptocurrencies, nothing in the press release or the product page suggests that Peninsula Visa accepts payments in digital assets other than BTCs.
The company, founded in Silicon Valley in the 1970s, says it plans to expand the passport services it offers via Coinbase payment over the next 12 months.
Evan James, its chief operating officer, said the decision was the right one, given the predictions of an increasingly digital, post-COVID world. He added that Peninsula Visa was delighted to be the first US company of its kind to accept BTC.
Protection against the votility of the BTC
For many industry observers, Bitcoin has somewhat failed as a payment network. The volatility of its price makes its acceptance for goods and services a real headache for some companies.
Peninsula Visa aims to protect itself from this situation by offering a payment window in which the exchange rate is blocked for ten minutes. According to its website, the company can provide a new exchange rate after this period, depending on the evolution of the BTC rates.
A first for the United States, but not worldwide
As mentioned, Peninsula Visa offers the first U.S. passport services for Bitcoin payments. However, at least one other country has already experimented with passport payment by BTC.
As reported by BeInCrypto.com in July, the Venezuelan government has also begun accepting Bitcoin momentarily for passport payments. The launch of this test was due to a new round of U.S. sanctions that hindered the South American nation’s ability to conduct international transactions.
Although censor-resistant Bitcoin payments seem appropriate to Venezuela’s situation, the tests appear to have been short-lived. Indeed, the BTC payment option disappeared from the site shortly after its release.