The UK-based charted accountancy and advisory firm BKL, a mid-sized firm with offices in London and Cambridge, has announced plans to accept cryptocurrency for settling invoices.
Using a leading payment processing system BitPay, BKL can now pay invoices using bitcoin, the company announced this on their blog on September 6.
The Top 50 firm in the UK manages clients within the technology sector that work with cryptocurrencies and blockchain, so it was a natural move for them, explains Jon Wedge, Financial Services partner at BKL.
“We support people and businesses that work with cryptocurrencies and blockchain, and this move has been driven by demand from our clients. It’s a convenient way for many of them, particularly those in the fintech and technology sectors, to buy our services.”
BKL will issue invoices to their clients in a traditional fiat currency. The client then will pay in bitcoin or bitcoin cash.
The conversion rate is provided by BitPay, using an average price from leading regulated exchanges. The rate is fixed for 15 minutes. This ensures there is no risk from price fluctuations that happen often with the digital currencies. BKL receives its payment through BitPay in a fiat currency.
Sonny Singh, Chief Commercial Officer of BitPay, commented on the move, too, saying “BKL are one of the most respected specialist accountancy practices serving the blockchain industry, and we are very happy that they are successfully using BitPay’s B2B service.”