In an effort to increment customers' security and privacy on its platform, cryptocurrency exchange Bitfinex has announced the adoption of open authentication standard universal second gene (U2F) within its merchant payments service, Bitfinex Pay.

The move enables the capacity for online stores and merchants adopting the Bitfinex Pay widget to receive payments for appurtenances and services in a range of crypto assets, including Bitcoin (BTC), Ether (ETH), Lightning Network BTC (LN-BTC) and Tether (USDT) on the Ethereum and Tron blockchains.

Customers of a registered merchant can cull the "Pay with Bitfinex" option upon checkout. Later on a brief detour through the Bitfinex payment gateway, the customer will be returned to the merchant's website. In one case confirmed, payment will be sent direct to the merchant's connected Bitfinex wallet address.

With this introduction, Bitfinex is positioning the U2F key — a physical USB device — as an culling to traditional two-gene authentication methods such every bit text-message or app notifications. The devices can be used across laptops and mobile devices and crave a six-digit passcode to grant payment approval.

The chief technology officer of Bitfinex, Paolo Ardoino, shared his comments on the feature:

"As a trailblazer in digital payments, Bitfinex Pay has already become a popular payment tool and with the addition of U2F, we are providing our users with further means of protecting themselves."

He continued to say: "These security keys make it almost impossible for a hacker to intercept both your password and the 2-factor code."

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In November 2022, payments giant PayPal debuted cryptocurrency payments on its United States platform, granting customers the ability to purchase, hold and sell a choice of pop digital assets. More recently, this feature branched out into its United kingdom of great britain and northern ireland market.

In time, Paypal plans to facilitate the transaction of crypto payments across its established network of 26 million online and physical merchants.