The cryptocurrency payment gateway expands to support stable currency payments
George Town, Cayman Islands – 28 November 2018
Merchants who use the CoinPayments gateway now have the ability to accept stable currency payments within their ecommerce store. Until now, no solution has been created for automated processing of stable currency payments. The integration of stable currencies in US dollars into the CoinPayments platform provides users with hosted portfolios and automatic payments for TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD) and Tether (USDT). Although there is not yet a clear winner for stable coins, each offers its own pros and cons and CoinPayments is proud to support more options.
"Keeping our users in mind, we are proud to announce the integration of stable currencies into our growing list of accepted cryptocurrencies, which will be a great advantage for all our users who struggle with volatility while trying to keep their profits. ".
– CoinPayments development team
Stable currencies currently have a large infrastructure built around their use within cryptocurrency exchanges, such as a trading pair that offers hedging against potential price movements. Now stable coins can be used directly to purchase goods and services from any company that uses the CoinPayments payment gateway. This provides both the customer and the trader the advantage of remaining within the realm of cryptocurrency, while enjoying the stability of a peg currency in US dollars.
The integration of stable coins into the CoinPayments platform has many advantages, including:
- Allow customers to spend while remaining in the realm of cryptocurrencies
- Allow the merchant to accept cryptocurrency payments without the volatility
- Provide a solution for the unbanked to store and calculate the value in a stable environment
Stable currencies usher in a new era for those who want to trade with a global currency, providing access to all of the world's financial systems. This is particularly tempting for stragglers and people living in countries with unstable monetary systems that are prone to hyperinflation.
"In keeping with our vision of providing the unbanked with a solution to store and transform value, the addition of stable currencies provides global access to an international financial instrument."
– CoinPayments operations team
Further information can be found in the official announcement of the CoinPayments Blog for the stable processing of coin payments.
CoinPayments was launched in 2013 as the first altcoin payment processor and has since grown to support bitcoin payments and over 1,000 altcoins for its user base of over 2.3 million accounts in 182 countries. The easy-to-use platform offers plug-ins and pre-compiled integrations for all major e-commerce platforms, including Shopify, Woocommerce and Magento. With hosted portfolios, conversion and fiat settlement functionality, CoinPayments paves the way for cryptocurrency.
George Town, Cayman Islands – www.CoinPayments.net – email@example.com