E-commerce giant and Libra Association member Shopify is partnering with crypto payments processor CoinPayments to bring more than 1,800 cryptocurrency payment options to Shopify merchants and their customers. Announced on May 20, this collaboration will accelerate the progress of mass crypto adoption by providing more use cases for not only Bitcoin and major altcoins, but a wider pool of tokens existent in the current market.
“The combination of Shopify and CoinPayments is unstoppable in the payments industry. By bringing our easy-to-use global crypto payments platform together with Shopify’s extensive merchant base, we look forward to delivering a seamless process for anyone looking to do business using cryptocurrencies. As leaders in ecommerce and crypto payments, our combined expertise reflects the future of business transactions,” said Jason Butcher, CEO of CoinPayments.
Merchants will be able to easily accept cryptocurrency for payments from anywhere in the world through CoinPayments, which eliminates unnecessary processing time and fees for payment transactions. Traditional payment methods typically come with higher transaction fees and merchants may also have to consider the different jurisdictions their businesses and sales fall under when dealing with international customers.
This is Shopify’s second partnership with a crypto payments processing company. The e-commerce platform previously partnered with Atlanta-based BitPay, which offered both merchants and customers the option to pay with and receive over 300 cryptocurrencies.
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