The adoption of Cryptocurrencies has continued to grow significantly in recent times. Coinbase, America’s largest Cryptocurrency bank has announced that its commerce section will expand to Woo Commerce. The new feature will be introduced through a plugin available for download at Github and will help in making the merchants feel comfortable when dealing with the virtual currencies.
Coinbase To Enable Woo Commerce Merchants Receive Crypto Payments
This week, Coinbase announced plans to partner with Woo Commerce and allow online traders to pay using Cryptocurrencies. Over a quarter of online merchants rely on Woo Commerce making it one of the largest payment platforms around. Coinbase has said that it will release a Woo Commerce plugin, which will be available for download at Github.
The new service will be part of the company’s proprietary Coinbase Commerce offering. Coin Commerce is a payment solution that has been working towards encouraging the use of Cryptocurrency among online merchants. The new feature will allow Woo Commerce merchants to receive Crypto payments from clients worldwide according to Conbase.
Currently, Bitcoin core (BTC) and Litecoin holders can send their payments from Coinbase Commerce. The company is testing the use of Ethereum and Bitcoin cash (BCH) on the platform. Coinbase has said that the decision to work with Woo Commerce will see an increase in Crypto adoption. This will help the company to come closer to achieving its goal of opening up the financial system.
Coinbase To Enhance Crypto Adoption by Millions
The decision by Coinbase to collaborate with Woo Commerce will see the number of Crypto users in the US and beyond increase tremendously. The option to include Coinbase functionality will be available to Woo Commerce businesses that use React now payment button. Consequently, the businesses will be able to receive Crypto payments.
Reports also say that Coinbase is also integrating programming languages like Python. Recently, it has been revealed the San Francisco-based Crypto bank is also considering Ruby. The merchants are happy with the recent developments at Coinbase as they are not being asked for acceptance payment charges.
Coinbase Has Been Expanding In Recent Times
This year alone, Coinbase has made several moves to reach more Cryptocurrency users not only in the Usbut also in other countries. The Crypto bank is now dealing with institutional financial products. The bank has also announced plans to introduce a Crypto index fund. The company has also bought Paradax exchange. Recently, the firm also announced plans to enter the Japanese Crypto market.
The payment processing sector is a large one and involves transactions worth millions or even hundreds of millions of dollars every day. Coinbase is entering an already crowded payment processing market. Nevertheless, it has a built-in-advantage it is among the first one to support Crypto payment. Moreover, the company has a strong brand identification. The Crypto bank has various licenses and enjoys trust among major players.
The recent activities at Coinbase will help in enhancing the growth of the Crypto bank. The company is definitely a major facilitator of Cryptocurrency adoption. The continued involvement of the bank in various projects will see the use of the virtual currencies increase significantly.