The team at CoinGate has announced that the platform now supports XRP payments for Merchants. CoinGate explained that this move was due to the popular demand by the XRP community to have the digital asset accepted for payments at over 4,500 vendors across the net. CoinGate further explained why the addition of XRP was necessary:
We are happy to cater to the huge XRP community and vastly expand the use cases of this digital asset. By being one of the first payment gateways that process XRP natively, we hope to significantly boost its utility.
For our merchants, it is also quite a huge deal as currently, XRP falls into a category of the largest cryptocurrency markets according to capitalization. Hence, it makes us confident that this integration will definitely bring more customers to our merchants rather soon.
Vendors receiving XRP payments have the option of instantly settling the revenue in Euros, Bitcoin (BTC), Ethereum (ETH) or keeping the funds in XRP.
XRP Community’s Response
Members of the XRP community were quick to applaud the move by CoinGate. One such member went as far as stating that XRP is the only digital asset his company accepts.
Fantastic! Our company will sign up so we can accept xrp payments. XRP is the only coin we will accept.
Another community member showed his enthusiasm for the digital asset by urging others to like and share the tweet by CoinGate that made the announcement.
LIKE AND SHARE PEOPLE!!! Retweet and make this known!!
— XRPpyLon (@xhoneycomb) February 1, 2019
CoinGate was founded in 2014 and the team behind the firm has a mission to expand the adoption of cryptocurrencies on a global scale. The payment gateway provided by CoinGate provides a reliable payments infrastructure that caters for both the needs of merchants and their customers. Mid last year, CoinGate integrated the Bitcoin Lightning Network. The platform currently supports BTC, ETH, Litecoin (LTC), DASH, Bitcoin Cash (BCH), XRP, ZCash (ZEC), NANO, Tron (TRX) and DAI.
This year, CoinGate aims at achieving the following:
- adding new account features
- crypto wallet functionality
- ability to issue refunds and payouts
- improved API
- permission-based account access
- mass payout options
- recurring payments
- support for more cryptocurrencies
What are your thoughts on CoinGate integrating XRP payments for merchants? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.