Crypto.com has announced its partnership with Shopify, where “Shopify merchants can now enable Crypto.com Pay on their online storefronts and expand their reach by giving customers more ways to make their purchases”. This integration is intended to reinforce Crypto.com Pay's position as the premier cryptocurrency payment tool for online merchants keen on accepting cryptocurrencies.
Crypto.com is one of the world's fastest-growing cryptocurrency platforms, with over 50 million members. It was founded in 2016 by Bobby Bao, Gary Or, Rafael Melo, and Kris Marszalek. Although the company was initially based in Hong Kong, it is now headquartered in Singapore, with around 5,000 people spread across offices in the Americas, Europe, and Asia.
Crypto.com Pay allows merchants to receive cryptocurrencies instantaneously and with no transaction fees from a growing global population of Crypto.com customers. Customers can also use more than 20 different tokens to pay for purchases at partner merchants, including Bitcoin, Ethereum, and Crypto.com's Cronos token.
“To welcome Shopify merchants to Crypto.com Pay, Crypto.com will waive the 0.5% settlement fee for one month. The promotion is valid until 30 June 2022,” reads the announcement on the exchange’s official website.
Shopify's client interactions are expected to improve by allowing merchants to offer other payment options. The recent partnership with Crypto.com is the latest in a long line of collaborations for Ottawa-based e-commerce tech giant Shopify, which has been gradually adding crypto-related functionality to its platform. Strike, an American digital payments platform based on Bitcoin's Lightning Network, had also revealed its partnership with Shopify last month.
Shashank is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash