top of page

SOLANA SHOPPIFIED 🛍



Solana Pay, the payment protocol developed on the Solana blockchain, has been seamlessly incorporated into the widely used e-commerce platform Shopify. This collaboration now empowers users to make payments using USD Coin (USDC), a prominent stablecoin, as jointly announced by the two companies on Wednesday.


Through this integration, individuals can link their Solana-oriented cryptocurrency wallets, such as Phantom, to complete on-chain payment settlements with merchants using USDC. It's important to note that while USDC is the initial cryptocurrency available for payments via this integration, other cryptocurrencies are expected to be included in the future. A spokesperson from the Solana Foundation confirmed this.


"When contemplating this integration, our choice leaned towards a stablecoin due to the fact that merchants and consumers primarily conceptualize transactions in dollars," explained Josh Fried, who serves as the head of commerce business development at the Solana Foundation. This decision offers a much smoother entry point, given that pricing is denominated in a currency that both consumers and merchants intuitively comprehend."


By utilizing USDC for payments, the settlement of transactions will occur almost instantaneously, in stark contrast to the typical several-day clearance period for most credit card payments, noted Fried.


Solana Pay was launched in the early months of 2022 with the aim of assisting merchants in accepting cryptocurrency payments. Notable supporters of this protocol include Checkout.com, Circle, and Citcon.



Reference

Braun, H. (2023) Shopify Customers Can Now Pay In USDC Via Solana Pay, www.coindesk.com. Available at: https://www.coindesk.com/tech/2023/08/23/shopify-customers-can-now-pay-in-usdc-via-solana-pay(Accessed: 30 August 2023).



8 views0 comments

Recent Posts

See All

コメント

5つ星のうち0と評価されています。
まだ評価がありません

評価を追加
bottom of page