Cardano has received a significant boost after being adopted for payment solutions. Merchants on Shopify and WooCommerce can now use the sixth-largest crypto for trading services.
A new integration by Cardano has pushed this crypto a step closer to being adopted for mainstream use. The sixth-largest cryptocurrency has partnered with NOWPayments for a plugin, which will enable merchants on Shopify and WooCommerce to access the Cardano (ADA). It will enable merchants from the two stores to accept payments in Cardano.
NOWPayments support for crypto
NOWPayments has made it possible for their users to gain access and derive value from their crypto holdings. The payment platform has made this possible by integrating more than 50 crypto coins into their systems.
According to the company’s website, they make it possible for merchants to receive payments in over 50 cryptocurrencies. The platform has already integrated the largest cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin.
The newly launched capability of using Cardano will enable users to send Cardano coins to the wallets of merchants directly. Besides, merchants who do not have crypto wallets will still be able to accept payments. They will enable this by automatically converting the coins to the preferred currency.
NOWPayments also added that they were looking into a new partnership with Etsy. This partnership will enable buyers and sellers in the platform to make and accept payments in Cardano. Etsy is one of the most prominent online market places.
Growing crypto adoption
Cryptocurrencies are no longer foreign, given that many people have become more interested in investing and using these digital assets. Mainstream payments platforms have started to adopt cryptocurrencies in their platforms to increase their user’s exposure to them. PayPal and Visa recently integrated Bitcoin as a payment method for their users.
Besides, users are becoming more willing to derive value from Bitcoin and other cryptocurrencies. Because of the growing acceptance, crypto is no longer just being held for speculation purposes. Holders can now use their wallets to purchase various goods and services from merchants who have integrated crypto payment services into their systems.
Because of the rate at which crypto is being adopted as a medium of exchange, its value has also increased. Bitcoin’s value, for example, has grown by over 500%. Besides, the crypto market reached a market cap of above $2 trillion for the first time this year. This growth is being attributed to the rate at which more people are willing to accept cryptocurrencies.