Digital Assets: Solana Pay, A Payment Protocol Based On The Solana Blockchain, Integrates Into Shopify
Solana Pay, a decentralized payments protocol built on Solana by Solana Labs, has integrated with Shopify Inc. (NYSE: SHOP), a global commerce company. This integration enables millions of businesses to use Solana Pay as a payment option. Solana Pay offers real-time access to funds, improved working capital management, and direct payment settlement using USD stablecoins (USDC) compatible with Solana.
This integration aims to provide merchants with more efficient payment choices, eliminate fees and delays, and offers consumers the convenience of using digital dollar currencies for transactions. Additionally, Solana Pay opens up opportunities for web3-enabled commerce experiences such as token-gated offers, cross-border payments, and NFT-based loyalty programs.
The protocol leverages Solana’s high transaction speeds and low fees for an optimal user experience. Brands like MonkeDAO, MadLads, Helius, and Solana’s merch store have already committed to implementing Solana Pay on their Shopify-powered storefronts.
Solana is a blockchain known for high performance and diverse use cases, while Solana Labs and the Solana Foundation are key players in its development, based in San Francisco and Zug, Switzerland, respectively.
Related Story: Shopify Unveils Shopify Credit, A Credit Card For Its Merchant Sellers
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