This new cooperation means that businesses will now be able to convert invoices to BTC and with the help of BitPay settle them faster and cheaper, compared to conventional bank-based remittance channels. Chief commercial officer Sonny Singh added: “Right now, people are doing cross-border payments and paying bank wires, FX fees around 4% and it takes about four days. Using Bithumb and BitPay, we’re able to make this a 1% fee in one business day”.