Why BitsPay and IndoEx Swapped Addresses for UCPI

Seeing news about major cryptocurrency exchanges getting hacks or users losing life savings due to a single typo instills fear in newcomers. This fear would be alright if you are still relying on long, cryptic wallet addresses.  

But a new standard has arrived.  

BitsPay and IndoEx, two prominent crypto exchanges, have fully integrated Paycio’s Unified Crypto Payment Interface (UCPI) protocol. Since going live, both exchanges have witnessed a sharp drop in user complaints, a rise in trust, and millions in transaction volume.  

What is Paycio’s UCPI and Why Does It Matter? 

At its core, Unified Crypto Payment Infrastructure (UCPI) replaces the long wallet addresses with something easily memorized: a mobile number. UCPI acts as the secure, intelligent backbone, handling all the complex, cross-chain routing in the background so the user can send/receive crypto without the fear of it disappearing. 

BitsPay: The Before & After 

BitsPay’s integration with UCPI is a perfect case study in transformation. Before UCPI, their support team was bogged down with user complaints about failed transactions and addresses typos.  

Since the UCPI integration, BitsPay has onboarded 4,300 new users and processed over $2.2 million in transaction volume. More importantly, user complaints related to incorrect wallet addresses have become a rarity.  

The new system also makes identity verification easier, streamlining the onboarding process and reducing friction. This shift has not only improved the user experience but also freed up significant internal resources for BitsPay to focus on growth and innovation.  

IndoEx: Bigger Scale, Same Gains 

IndoEx, a larger exchange with a bigger user base, saw similar gains on an even greater scale. Their core challenge was managing a massive volume of transactions without compromising on security or user trust. UCPI was the solution.  

With UCPI, IndoEx has onboarded over 10,000 new users, processing more than $5 million in transaction volume. The most significant win for IndoEx is the complete elimination of incidents involving lost funds due to wallet address typos.  

By removing the need for users to share or manage wallet addresses entirely, UCPI has boosted trust and retention rates, proving that security and usability can coexist.  

The Bigger Shift: Privacy and Security 

Beyond the numbers, UCPI improves the invisible parts of crypto transactions, as well.  

No More Exposing Wallet Addresses: The new system allows users to transact without publicly sharing their underlying wallet address. This simple change reduces a significant attack vector for scams and impersonation. 

Reduced Impersonation Scams: With a recognizable identifier, it’s harder for bad actors to impersonate legitimate accounts and trick users into sending them funds.  

Less Cognitive Load: Users no longer need to perform the mental gymnastics of double-checking a long, complicated string of characters. This reduction in “cognitive load” leads to fewer errors and a more confident user base.  

Stronger Compliance: For exchanges like BitsPay and IndoEx, UCPI provides a more robust and streamlined way to ensure Know Your Customer (KYC) compliance, making the entire ecosystem safer for everyone.  

Conclusion 

The integration of Paycio’s UCPI protocol by BitsPay and IndoEx is a clear sign that the industry is moving toward a future where crypto is as simple and safe as any other digital payment method. This not only makes transacting easy but rebuilds trust and opens the door for millions of people interested in crypto.