Crypto.Com has informed that Shopify merchants will be able to use their payment solution, Crypto.Com Pay, on their online storefronts.
According to the official blog post, the crypto trading platform noted that the latest move should help the e-commerce company expand its reach by allowing users to make cryptocurrency transactions in additional ways.
To encourage Shopify merchants to sign up for Crypto.Com Pay, the crypto platform has also announced that the 0.5 percent settlement fee on all transactions would be waived for one month upon integration. This promotion will be available in stores through June 30th. Customers can currently pay in over 20 different tokens, including Bitcoin, Ethereum, Cronos, Shiba Inu, Dogecoin, and ApeCoin.
Kris Marszalek, Co-founder and Chief Executive Officer of Crypto.Com, commented on the development, stating that providing more customers and merchants across the globe with the ability to engage in commerce using cryptocurrencies is a high focus for the company.
Shopify’s Lead of Blockchain Ecosystem, John S. Lee, also stated,
“We’re happy to welcome Crypto.com to help Shopify merchants provide an additional fast and convenient way for customers to pay for their online orders. Our growing blockchain ecosystem demonstrates our commitment to supporting merchants with alternative payment methods on their storefronts, helping to further expand what’s possible in commerce.”
The Ottawa-based e-commerce behemoth recently collaborated with the digital payments platform Strike to enable US businesses to receive faster and cheaper Bitcoin payments via the Lightning Network (LN). As previously said, Shopify’s goal is on tapping hitherto untapped segments and purchasing power while allowing its merchants to save money through low-cost payment processing.
After working with GigLabs, Shopify previously announced that its merchants would be able to exchange NFTs on its platform. Tobias “Tobi” Lütke, the company’s creator, joined Coinbase’s Board of Directors earlier this year.
A class-action complaint was filed against Shopify, Ledger, and TaskUs this month in connection with a catastrophic data breach that occurred two years ago. According to the plaintiffs, both Shopify and TaskUs were aware of the infringement in Ledger’s database for more than a week before informing customers.