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Lithuania-based CoinGate, a payment gateway for blockchain payments, announced Friday that it has added support for XRP (XRP), bringing the second-largest cryptocurrency to more than 4,500 merchants.


According to the announcement, once a merchant accepts an XRP payment, they have the option to settle the transaction in Euros, Bitcoin, Ether or simply keep the funds in XRP. Ultimately, CoinGate sees this as a logical addition to its platform, which currently supports nearly 50 different coins.

“The payments with XRP cost less than a fraction of penny – $0.00001, to be exact. The excellent performance and undeniable convenience make the ledger a sound tool for executing casual payments globally. That is the main reason why we chose XRP for our next big step in development,” CoinGate stated. “With that said, we believe XRP can become a huge player in the payments industry, and not only for businesses.”

Users who have completed KYC verification can also purchase XRP directly using SEPA bank transfer and credit or debit card.

XRP is currently up 2.1% over the last 24 hours to $0.306702, giving the altcoin a $12.6 billion market cap.

More: CoinGate enables native XRP payment option for merchants
Related: Ripple’s XRP Jumps 10%, Leading Wednesday’s Crypto Market Recovery

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.