Customers of GridPlus Energy can now pay their utility bill with Ethereum and Dai, with Bitcoin to be added later.
Texas residents in Oncor or Centerpoint regions in Texas can now pay their electricity bill with cryptocurrencies, according to company’s blog. Currently, clients can pay with Ethereum and Dai, and Bitcoin support will likely to be added in the ‘near future’.
One of the advantages that comes with the move is faster settlement cycles. Currently, the settlement interval is on a monthly basis, but the company aims for ~15-minute intervals. In Texas, electricity prices adjust based on the market supply and demand according to 15 minute intervals, this will benefit the end user compared to locking in a fixed-price product.
The crypto use cases are constantly expanding. Earlier, Argentina’s public transport allowed its customers to top the commuter card with digital money, while American H&M Distributors, wholesaler providing cost-effective replacement ballasts, lampholders, and lampholder accessories, added an option of paying with multiple coins for its products.