CoinGate, a leading European crypto payment gateway, recently announced a partnership with Wix.com (NASDAQ: WIX), allowing German, Lithuanian, Dutch, and Spanish Wix shop owners to accept crypto payments from their customers.
This integration is part of a larger trend towards the increased prevalence of cryptocurrencies as a form of payment by merchants.
CoinGate CEO Justas Paulius believes that this partnership will inspire more businesses to take advantage of cryptocurrency markets.
“Cryptocurrencies are becoming inseparable from the realities of people’s daily lives globally. Our goal is to give all people a way to participate in global economies, regardless of whether they own a bank account or use credit cards, while providing merchants with a convenient way to serve them. I believe our partnership with Wix brings us one step closer to our goal.”
The payment gateway allows Wix retailers to accept Bitcoin (including Lightning Network payments) and over 70 other cryptocurrencies from their clients.
All cryptocurrencies received by a business may be converted to and withdrawn in a single fiat currency, such as EUR, USD, or GBP, to mention a few.
Paulius believes that having the option to accept cryptocurrency payments can give certain businesses a competitive.