The Shopify e-commerce platform for the moment only offered options for paying with Bitcoin (BTC) and some of the biggest altcoins, via BitPay or Coinbase Commerce. But now, via a new partnership with CoinPayments, Shopify merchants will be able to accept more than 1900 cryptocurrencies!
An exhaustive crypto-payment gateway
In a press release issued on 20 May, the Canadian giant e-commerce Shopify and payments provider crypto CoinPayments have announced their partnership.
This agreement will allow all Shopify merchants to choose a cryptocurrency payment option from the myriad offered by CoinPayments.
Indeed, the crypto-payments service offers a choice of no less than 1905 different crypto- assets!
Because in addition to a very large number of altcoins, CoinPayments also supports an impressive amount of tokens from the Ethereum network (ETH).
This crypto payment method has been in beta test at Shopify since 2019. It will also facilitate cross-border payments.
Objective: “to encourage wider adoption of payments in digital currencies”
With its ease of creating e-commerce shops, Shopify now provides services to more than a million companies in more than 175 countries: it is therefore a huge market that is opening up to cryptocurrencies.
“The combination of Shopify and CoinPayments is unstoppable in the payments industry,” said CoinPayments CEO Jason Butcher. “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.”
Being able to accept the smallest of the smallest cryptocurrencies is an undeniable boost to adoption. Of course, traders will not be forced to accept all passing shitcoins. They will be able to choose which cryptos to accept on their store.
After the arrival of Bitcoin’s Lightning Network last year, the Shopify platform takes another big step towards the cryptosphere. The e-commerce giant, who has also joined Facebook’s stablecoin Libra project, clearly wants to get ahead of its competitor Amazon in this area.
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