CoinGate introduces XRP payments for merchants

Payment gateway CoinGate has announced the addition of $XRP into the roster of accepted currencies for merchants. By implementing native payment options in the currency, the platform hopes to cater to the $XRP community backed by one of the largest cryptocurrency markets according to capitalization, CoinGate writes in a blog post.

The firm notes that $XRP differs from other previously supported cryptocurrencies as it is not blockchain-based and is maintained by independent validators which use the Ripple protocol consensus algorithm to confirm changes. CoinGate has recently launched their own $XRP ledger validator as well, in hopes to “further accelerate the decentralization of the $XRP network,” the company stated in the blog post.

Apart from using $XRP as a means of payment, clients will be able to purchase the currency directly on the platform.

Leave a comment