The developers at OpenNode, which tries to provide a simple and reliable payments stack for business, revealed that they’ve introduced a feature that enables users to split the settlement of a single payment across both Bitcoin (BTC) and local fiat money.
The firm says that businesses that use OpenNode can keep a certain amount of settlement funds in Bitcoin, while continuing to use Automatic Conversion to local fiat currency “to avoid full exposure to Bitcoin price volatility.”
The company said in a blog post: “OpenNode is committed to helping businesses reap the benefits of accepting Bitcoin and Lightning Network payments. We are also helping businesses minimize exposure to FX risk. With this update, OpenNode will help businesses reap the benefits of holding a discretionary amount of earnings in Bitcoin.”
The OpenNode team says that this Split Settlement feature should help businesses with holding Bitcoin as a “primary reserve currency” – which is now becoming more common among large companies. Public companies now hold over $7 billion in Bitcoin (BTC).
As OpenNode noted, as the BTC price continues to climb, its value proposition as a store of value and medium of exchange should strengthen.
The company said they expect the Split Settlement feature to be of “increasing value” to businesses. It continued: “OpenNode’s goal is to deliver the best solutions for businesses looking to integrate Bitcoin payments. We’re always open to new ideas and welcome suggestions for new features to add to our platform.”
As said before, Ryan Flowers from OpenNode had pointed out last month that the value of a single Bitcoin (BTC), the leading cryptocurrency, keeps increasing and there will be more businesses that will accept Bitcoin payments in the future.
Flowers noted that this has been the case in the past with larger corporations taking Bitcoin as payment. He says that the Bitcoin blockchain network has improved due to certain advancements or updates made to the Lightning Network – which wants to serve as a scaling solution for the most important cryptocurrency.