Merchants using the CoinPayments gateway now have the option to accept stable coin payments within their ecommerce store. Until now, there hasn’t been a solution created for automated payment processing of stable coins. The integration of US dollar-pegged stable coins into the CoinPayments platform provides users with hosted wallets and automated payments for TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD) and Tether (USDT). While there isn’t yet a clear winner for stable coins, they each offer their own pros and cons and CoinPayments is proud to support multiple options.
“Keeping our users in mind, we are proud to announce the integration of stable coins to our growing list of accepted cryptocurrencies. This will be a great benefit to all our users who struggle with volatility while trying to maintain their bottom line.”
– CoinPayments Development Team
Stable coins currently have a large infrastructure built around their use within cryptocurrency exchanges, as a trading pair offering a hedge against potential price movements. Now stable coins can be used directly to purchase goods and services from any businesses using the CoinPayments payment gateway. This provides both the customer and the merchant the benefit of staying within the realm of cryptocurrency, while also enjoying the stability of a US dollar-pegged currency.
The integration of stable coins into the CoinPayments platform has many benefits, including:
- Allowing customers to spend while remaining within the realm of cryptocurrencies
- Allowing the merchant to accept cryptocurrency payments without the volatility
- Providing a solution for the unbanked to store and transact value in a stable environment
Stable coins usher in a new era for those wanting to transact with a global currency, providing access for everyone to the world’s financial systems. This is especially appealing to the unbanked and to people living in countries with unstable monetary systems that are prone to hyperinflation.
“In keeping with our vision of providing the unbanked with a solution to store and transact value, the addition of stable coins offers global access to an international financial instrument.”
– CoinPayments Operations Team
More information can be found in the official CoinPayments Blog Announcement for Stable Coin Payment Processing.
CoinPayments was started in 2013 as the first altcoin payment processor and has since grown to support payments for bitcoin and over 1,000 altcoins for their userbase of over 2.3 million accounts across 182 countries. The easy to use platform offers prebuilt plugins and integrations for all the major ecommerce platforms, including Shopify, Woocommerce and Magento. With hosted wallets, conversion and fiat settlement functionality, CoinPayments leads the way in furthering the adoption of cryptocurrencies.