CoinGate has announced the integration of Solana (SOL) for cryptocurrency payments, allowing users to make transactions with SOL and USDC at affiliated merchants.
CoinGate is considering this integration, showing their ongoing support for SHIB. Stay tuned for more updates in the evolving world of cryptocurrency payments.
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Payments with SOL and USDC on Solana Network
On May 14, 2024, CoinGate, a provider of cryptocurrency payment services, announced the addition of Solana (SOL) to its network for cryptocurrency payments.
This integration, hinted at last week as a "major announcement," now allows payments in "SOL" and "USDC" via the Solana network at CoinGate-affiliated merchants.
The official announcement also mentions plans to support meme coins based on the Solana network. The following wallets can be used for payments:
- Phantom
- Solflare
- Glow
- Decaf Wallet
- Espresso Cash
- Ottr
- Ultimate
- Tiplink
- Trust Wallet
Reasons for Integrating Solana
The integration of Solana (SOL) into CoinGate’s cryptocurrency payment gateway is attributed to Solana's reputation as a fast, efficient, high-performance blockchain with significant popularity in the crypto community.
CoinGate, citing data from "Coin98 Analytics," notes that Solana is the fifth most popular blockchain, with 868,000 daily users.
By incorporating Solana into the cryptocurrency payment network, CoinGate aims to leverage Solana's rapid transaction capabilities, attracting Solana users to CoinGate-affiliated merchants.
Solana's Layer 1 blockchain offers a high-speed, low-cost transaction environment, enabling quick and cost-effective payments through the Solana network.
Community's Call for Shibarium Integration
While the announcement confirmed that the major update was the integration of Solana, the community has expressed a strong desire for the inclusion of Shibarium, a Layer 2 network associated with Shiba Inu (SHIB).
This preference was evident from a recent survey where Shibarium received overwhelming support, leading to numerous queries about why it wasn't chosen despite winning the vote.
CoinGate clarified that the previous poll aimed to determine which network to integrate next, explaining that they have since added support for SHIB on Binance Smart Chain and Polygon to meet community expectations.
The company also mentioned proposing to the team the consideration of integrating Shibarium in the future, indicating potential support for Shibarium in cryptocurrency payments.
CoinGate had previously shown its support for SHIB, stating, "We love SHIB," when they extended SHIB support on Binance Smart Chain and Polygon, reinforcing their commitment to the SHIB community.
>> Click here for the latest news on cryptocurrency payments.
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CoinGate Expands Supported Blockchains for Cryptocurrency Payments
Discover how CoinGate is set to expand its blockchain support for cryptocurrency payments, potentially integrating Shibarium with its dominant 78% support rate, and what this could mean for the future of digital transactions.
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