CoinGate Adds XRP Support for Merchant Payments

Lithuania-based CoinGate, a payment gateway for blockchain payments, announced Friday that it has added support for XRP (XRP), bringing the second-largest cryptocurrency to more than 4,500 merchants.

Big news for #XRPcommunity and our merchants alike! We launched native $XRP support to our customers, meaning #XRP is now accepted as payment at thousands of vendors across the Net. Proceed to our blog for more detailed information! https://t.co/MnY2n6onDH pic.twitter.com/BYTxROGrpx

— CoinGate (@CoinGatecom) February 1, 2019


According to the announcement, once a merchant accepts an XRP payment, they have the option to settle the transaction in Euros, Bitcoin, Ether or simply keep the funds in XRP. Ultimately, CoinGate sees this as a logical addition to its platform, which currently supports nearly 50 different coins.

“The payments with XRP cost less than a fraction of penny – $0.00001, to be exact. The excellent performance and undeniable convenience make the ledger a sound tool for executing casual payments globally. That is the main reason why we chose XRP for our next big step in development,” CoinGate stated. “With that said, we believe XRP can become a huge player in the payments industry, and not only for businesses.”

Users who have completed KYC verification can also purchase XRP directly using SEPA bank transfer and credit or debit card.

XRP is currently up 2.1% over the last 24 hours to $0.306702, giving the altcoin a $12.6 billion market cap.

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