Russian-based WebMoney, a global settlement system for online business activities, has announced that it has enabled bitcoin payments for members and non-members of WebMoney for purchases of products and services sold by WebMoney authorized shops.

According to then official announcement, bitcoin payments will be received on the sellers’ account in WMX, which is a type of WebMoney Transfer units. These WMX can be exchanged for other title units like WMZ, WMR or to bitcoins.

WebMoney previously introduced a new type of purse called X-purse with WMX digital title units that are transferred for keeping rights for publishing records in bitcoin.org, which is a publicly available database.

“To start accepting payments in bitcoin a seller registered in the WebMoney system has to set X-purse on the Merchant WebMoney service. WMX paid onto a seller`s account in the following exchange rate: 0.001 BTC to 1 WMX after receiving of a minimum of six transaction confirmations in bitcoin,” the announcement stated.

The seller will have the choice to distribute the purchased products to the buyer at their own discretion at any stage before receiving the transaction confirmations.

Established in 1998, WebMoney Transfer commonly known as WebMoney claims to have more than 31 million users. WebMoney Transfer Technology is based on providing all its users with interfaces that allow operating and controlling individual property rights for valuables (assets), stored at the specialized entities — the Guarantors.