Crypto.com has announced that Shopify merchants will be able to use their payment solution, Crypto.com Pay, on their websites. In an official blog post, the crypto trading platform noted that the recent move should help the e-commerce giant expand its reach by allowing users to purchase cryptocurrency in various ways.
To encourage Shopify merchants to sign up for Crypto.com Pay, the crypto platform has announced that the 0.5 per cent settlement fee on all transactions would be waived for the first month following integration. This promotion will be available in stores through June 30th.
Customers can currently do so in over 20 different tokens, including Bitcoin (BTC), Ethereum (ETH), Cronos (CRO), Shiba Inu (SHIB), Dogecoin (DOGE), and ApeCoin (APEC) (APE). Kris Marszalek, Co-founder and Chief Executive Officer of CryptoCom, commented on the development, saying that enabling more customers and merchants across the globe to engage in commerce using cryptocurrency is a high focus for the company.
The Ottawa-based e-commerce behemoth recently collaborated with digital payments platform Strike to enable merchants in the United States to process Bitcoin payments via the Lightning Network at a faster and lower cost (LN).
Shopify’s focus, as previously stated, is on tapping into 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.
Last month, a class-action complaint was filed against Shopify, Ledger, and TaskUs over the massive data breach that occurred two years ago.
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