Various companies across industries are planning to incorporate crypto as a payment option. Recently, U.K.-based law firm Gunnercooke has become the latest company to accept crypto payments.
According to a Law Society Gazette report, Gunnercooke will route payments via Coinpass, a popular crypto exchange platform. Besides this, the report also states that Attestant which is a crypto transaction verification service is one of its clients that are paying for crypto services.
Naseer Patel, finance director at Gunnercooke, explained the reason for his company’s move:
“Up to now, only a few U.S. law firms allow for crypto-asset payments, so we are proud to be at the forefront of innovation in the U.K. — We will now be able to work with a wider variety of clients across different jurisdictions, plus offer our partners the flexibility to be paid securely in the way they choose.“
However, this isn’t the first time any law firm has planned to incorporate crypto payments. The same report talked about a law firm named Quinn Legal which had signaled their plan to incorporate crypto payments in the future. However, most of the law firms were reluctant to accept such a highly volatile asset as a sort of payment.
Although law firms accepting crypto payments will highly boost their adoption, the tech still has a long way to go. Also, Crypto markets are highly volatile, with severe and violent moments in a matter of hours. Moreover, there is a growing need for crypto markets to attain some stability.