Cryptocurrency exchange Gate.io has rolled out a crypto-based payment product ‘Gate Pay’ with an aim to move beyond core trading services.
The firm seeks to bring blockchain closer to daily activities by offering crypto-friendly business applications to its users.
Gate Pay will enable the crypto exchange to introduce Web 3.0 applications for the convenience of individual users and business partners.
A free-to-use crypto payment technology, Gate Pay will offer customers a secure way to make purchases using cryptocurrencies, stated the vendor.
On the other hand, the product’s ‘business-friendly’ tools will help merchants adopt crypto as a payment method.
Gate.io CEO and founder Dr Lin Han said: “Cryptocurrency as a payment method is the key to unlocking the widespread usage of cryptocurrency. Gate.io has always remained steadfast in promoting large-scale usage and the application of crypto assets worldwide.
“Gate Pay is our next major commitment to further crypto adoption. It will bridge the gap between Web 3.0 and daily life, reducing the barriers for users and merchants to utilise cryptocurrency fully.”
Merchants can receive crypto payments by integrating Gate Pay into their online and physical stores.
This will also provide them with access to other Web 3.0 applications including online crypto-friendly retailer Uquid and crypto travel booking service Travala.com.
Users can send crypto payments either via QR code payment or address payment.
At present, Gate Pay supports nearly 20 cryptocurrencies for payments. The platform is expected to expand its services to include 130 cryptocurrencies in the future.
Additionally, Gate.io plans to update Gate Pay with C2C transfers, promotional handouts among other features.