- Shopify Inc. stock (TSX:SHOP) has added Solana Pay as a payment option for its millions of e-commerce businesses
- Solana Pay is a decentralized, open-source, peer-to-peer payments protocol built on Solana, a blockchain network that transacts in the popular SOL cryptocurrency, as well as other crypto and digital dollar currencies
- Shopify is a leading global e-commerce company powering millions of businesses in more than 175 countries
- Shopify stock (TSX:SHOP) last traded at $76.83 per share
Shopify Inc. stock (TSX:SHOP) has added Solana Pay as a payment option for its millions of e-commerce businesses.
Solana Pay is a decentralized, open-source, peer-to-peer payments protocol built on Solana, a high-throughput blockchain network that transacts in SOLs, one of the largest cryptocurrencies by market cap, as well as many other crypto and digital dollar currencies.
Solana Labs, the technology company behind Solana, is a developer of Web 3.0 projects and open-source software based out of San Francisco.
Solana Pay offers merchants real-time access to their funds and enhanced management of working capital, liquidity and liability protection because of its decentralization, or absence of a financial intermediary. Additional features include instantaneous direct payment of US$ stablecoins compatible with Solana, cross-border payments, as well as no bank fees, chargebacks or holding times.
“Solana Pay on Shopify opens up millions of merchants to a more dynamic and efficient payment choice, while consumers get the convenience and increased utility of being able to pay for goods and services with digital dollar currencies from the vast network of merchants using Shopify,” Josh Fried, Head of Commerce Business Development, Solana Foundation, said in a statement.
We recently profiled the Solana network as part of our top 5 crypto to buy right now in Canada.
Shopify is a global e-commerce company offering internet infrastructure to run retail businesses of any size. The company powers millions of businesses in more than 175 countries.
Shopify Inc. stock (TSX:SHOP) last traded at $76.83 per share. The stock has added approximately 78 per cent over the past year.
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