Crypto Payment Firm CoinGate Adds Support For Ripple’s XRP

Announcements, News | February 4, 2019 By:

Crypto payment gateway CoinGate has announced the addition of Ripple’s XRP on its platform, allowing its merchants to accept XRP payments.

Founded in 2014, CoinGate enables various businesses to accept bitcoin and altcoin payments. It offers payouts either in bitcoin, or in EUR/USD, eliminating any risk associated with bitcoin price volatility. Users can also buy bitcoins from CoinGate using bank transfer, credit and debit cards, and mobile balance (phone credit), or sell their bitcoins to the company.

In a blog post, CoinGate said that the addition of XRP, which is currently the second-largest cryptocurrency by market cap, means coin owners will now be able to use it as a means of payment at more than 4,500 shops online. CoinGate added that by being one of the first payment gateways that process XRP natively, they hope to significantly boost its utility and expand the use cases.

“With us launching the XRP support, we open up opportunities for XRP to reach far outside its own ecosystem into bigger markets,” CoinGate said. “At the same time, it allows the community to utilize the token in more ways than ever before.”

The addition of XRP came after CoinGate announced that privacy service provider Surfshark will be the first merchant to test its Lightning Network (LN) solution for Litecoin.

“We picked up Surfshark as it fits all of our criteria, and has a perfect product for transacting on the LN,” CoinGate said. “On top of that, they provide a highly secure product, according to the independent web security testers Cure53. Therefore CoinGate team, as security and privacy advocates, picked SurfShark as the first merchant to test the Litecoin Lightning Network, and more will join as we move forward.”