Gate.io, which claims to be one of the world’s “earliest” and “largest” cryptocurrency exchanges, has officially launched Gate Pay, a crypto-based payment product.
Gate.io believes that, “with a larger purpose to bridge the divide between blockchain and everyday life, cryptocurrencies will assume the basic and critical function of currency– as a means of payment– bringing a wider adoption beyond the limited user group in trading and transactions.”
Therefore, Gate.io decided “to develop and launch Gate Pay to bring the Web 3.0 lifestyle to the public by serving individual users and business partners with its crypto-based payment solution.”
As explained in an update shared with CI, Gate Pay is “a secure and free-to-use crypto payment technology fully developed by Gate.io.” Users gain access “to a more user-friendly method of sending crypto payments for goods and services, and merchants benefit from business-friendly tools so they can start accepting cryptocurrency.”
Currently, Gate Pay reportedly “supports over 20 cryptocurrencies for payments, with plans to increase to 130 cryptocurrencies in the future.”
As revealed in the update:
- Support for 21 currencies, later expanded to 130+
- Free to use with no additional fees (only network gas fees)
- Fast integration with dedicated tech and operation support
- Business-friendly systems to easily monitor and manage transactions
Business partners can “begin accepting crypto by integrating Gate Pay into their online and brick-and-mortar stores or launching on Gate MiniApp, a third-party dApp platform integrated directly into Gate.io’s ecosystem.”
Dr. Lin Han, CEO and Founder of Gate.io, said:
“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 utilize cryptocurrency fully.”
Gate.io provides full support “to business partners integrating Gate Pay, whether already crypto-friendly or new adopters.” In addition, partners will “have further access to other components of Gate.io’s ecosystem.” For example, the Gate MiniApp already “hosts some leading Web 3.0 applications, such as online crypto-friendly retailer Uquid and crypto travel booking service Travala.com.”
Moving forward, Gate.io will continuously “evolve Gate Pay, with plans to introduce C2C transfers, promotional handouts, and more.”
Feng Zhou, Director of Gate Pay, Gate MiniApp, remarked:
“From release to later evolutions, Gate Pay will become an important step in promoting the use of cryptocurrency. To achieve this, Gate.io will constantly innovate new product concepts to enrich the functions of Gate Pay.”
Founded in 2013, Gate.io has strived “to provide its users with the best trading experience in the last nine years.”
As a result, in terms of trading volume, Gate.io claim it is “one of the top 10 crypto exchanges in the world, listing crypto assets that are high quality and have a high rate of return.”
Currently, Gate.io has 1500+ cryptocurrencies “listed for trading and provides 2800+ trading pairs to over 12 million users worldwide.”