Wikimedia Foundation Drops Coinbase & Joins Bitpay

The Wikimedia Foundation, famously known for being the non-profit organisation which runs Wikipedia as well as many other free knowledge sites, has announced that they are switching payment processors. The foundation has stated that they are entering a partnership with BitPay.

Who is BitPay?

BitPay currently holds the title as the world’s largest Bitcoin and Bitcoin Cash payment processor and Wikimedia have stated that this move comes to adapt to the needs of their donors “who have shown an increased interest for different cryptocurrencies.”

This new partnership will allow Wikimedia Foundation to begin accepting Bitcoin Cash as payment, a move which has been praised by  Director of Payments and Operations, Pats Pena as a “natural next step.”

Wikimedia Foundation stated:

“Our donors have shown an increased interest for different cryptocurrencies, so accepting Bitcoin Cash was a natural next step. We accept donations globally, and we strive to provide a large variety of donation options. It’s very important that we can get international donations processed in ways that are efficient and cost-effective.”

Chief Commercial Officer of the Foundation Sonny Singh added:

“Bitcoin and Bitcoin Cash are one of the cheapest payment options available, so more money goes to charity rather than paying fees. Wikimedia does so much good around the world that it is a privilege to help them raise money.”

This is a definite shift in the right direction for Wikimedia, and while the foundation did not give a reason as to why they’re moving away from CoinBase, who as we know, can process Bitcoin Cash and many other coins, this move will be a massive boost for Bitcoin Cash.

Notably, this move has not only been met with praise, as some complaints have come to light since donations are not anonymous and this is highly unlikely to change despite the change of processors:

“I was deeply disappointed to discover that it requires providing personal details. While I have nothing to hide and am proud to support Wikipedia, as a matter of principle, I should not have to provide this information. Even more ridiculous is that certain countries are not included. If I were from Iran, why would I not be allowed to donate to Wikipedia?”

Despite these complaints, Wikimedia is standing by their guns that they never sell or trade any user information as per their donor policy. Lastly, since the November 15, 2018, hard fork, Bitcoin Cash’s transactional volumes have been on a steady decline.

Could this new partnership bolster volumes and drive up the demand? Let us know what you think by leaving a comment below.