Coingate, a Lithuanian blockchain payment platform, has started supporting the Ripple’s native currency XRP as a payment method for merchants. The information was revealed through the official Twitter account of Coingate.
The information has already received warm response from the XRP community. The Coingate payment platform now allows users pay for a video game, VPN or any other items across more than 4,500 online retailers.
Per the message, vendors will be able to accept XRP as payment for the service offered. Coingate’s platform will act as the payment gateway for the transaction. Notably, Coingate started supporting XRP due to an increase in demand.
Big news for #XRPcommunity and our merchants alike! We launched native $XRP support to our customers, meaning #XRP is now accepted as payment at thousands of vendors across the Net. Proceed to our blog for more detailed information! https://t.co/MnY2n6onDH pic.twitter.com/BYTxROGrpx
— CoinGate (@CoinGatecom) February 1, 2019
On January 17, a XRP user, Tiffany Hayden tweeted a merchant about the difficulty of using XRP for payment. She asked:
“when I pay with $XRP through you to a merchant who has requested to receive funds in $USD, does my XRP get converted into Bitcoin or any other crypto on your end?”
As there was no support, she explained the rising demand for such facility. That might have nudged Coingate to consider offering support to XRP.
✍CoinGate #Crypto Payment Finally Hit $XRP Ledger Validator Process
✍An online Crypto Payment gateway platform, @CoinGatecom has recently begun running the #XRP #Ledger Validator. This process is a part of #Coingate’s growth plan of the year 2019#0doubthttps://t.co/9wiztiOcJ7— Boncryp XRP? (@boncryp) January 29, 2019
Today, Feb 02, 2019, Coingate responded to Tiffany’s tweet by saying ‘Coingate now support native XRP payment’.
There isn’t a payment processor who accepts $XRP “natively” and @CoinGatecom could be the first one.
You may have heard rumors about an alleged army of loyal supporters dedicated to positioning $XRP as the #1 digital asset in existence. All true. ?https://t.co/p9f6ViSsMd— Tiffany Hayden (@haydentiff) January 17, 2019
Furthermore, the official blog of Coingate claims that it is the first payment gateway to accept XRP crypto as a payment. Ripple is confident that XRP will open new window of opportunities to merchants. Coingate also facilitates conversion of XRP payments into fiat (Euro) and crypto (Bitcoin or Ether).
The blog reads as follows;
“We are thrilled to let you know that we are adding yet another payment option for our merchants, and this time it’s a big one! Due to very popular demand by the community, our next cryptocurrency on the list – XRP!”
With the growing demand for XRP as mode of payment, the firm seems to be assessing its potential across the market. This can be understood from the fact that in early Jan 2019, Coingate conducted a Twitter survey to start XRP Ledger Validator.
Nevertheless, the survey result gave thumbs up to ‘Native XRP support,’ which Coingate implemented.
Guys, we’re seeking the opinion of our community! Which integration would you most want to see come out on CoinGate? #LightningNetwork $LTC $XRP $TRX #Litecoin #XRP #Tron #cryptocurrency #stablecoin
— CoinGate (@CoinGatecom) January 9, 2019
