The team at CoinGate has announced that the platform now supports XRP payments for Merchants. CoinGate explained that this move was due to the popular demand by the XRP community to have the digital asset accepted for payments at over 4,500 vendors across the net. CoinGate further explained why the addition of XRP was necessary:
We are happy to cater to the huge XRP community and vastly expand the use cases of this digital asset. By being one of the first payment gateways that process XRP natively, we hope to significantly boost its utility.
For our merchants, it is also quite a huge deal as currently, XRP falls into a category of the largest cryptocurrency markets according to capitalization. Hence, it makes us confident that this integration will definitely bring more customers to our merchants rather soon.
Vendors receiving XRP payments have the option of instantly settling the revenue in Euros, Bitcoin (BTC), Ethereum (ETH) or keeping the funds in XRP.