Earlier today, Coingate and PrestaShop announced a partnership plan that will integrate Coingate into the Prestabase’s backend payment infrastructure. This will allow merchants using PrestaShop to accept cryptocurrencies as a method of payment at any of Prestagate’s 80,000+ stores located throughout Europe.
Coingate is a cryptocurrency exchange based in Vilnius, Lithuania. It currently supports Bitcoin and forty-three different altcoins including the “Big Three”: Ethereum, Ripple, and Litecoin. It provides exchange rates for forty-four different currencies including Bitcoin, Ethereum, Ripple, and Litecoin and forty fiat currencies. Coingate currently has an estimated 50,000 users worldwide.
PrestaShop is an ecommerce platform providing payment solutions to over 250,000 online stores in almost two hundred countries. PrestaShop software is open source and available free of charge and has recently launched a blockchain-based traceability system called PrestaTrust to allow module developers to determine if support requests originate from customers who have legitimately purchased their software.
The integration of Coingate into PrestaShop’s backend will allow PrestaShop’s Europe-based users to easily accept any of Coingate’s supported currencies as payment in their online stores. This will make cryptocurrency a potential payment option in up to 80,000 online stores. To protect merchants from cryptocurrency volatility, exchange rates will be locked in at time of purchase and merchants will be paid in Euros the following day. Adopters are promised a module that can be integrated “with a few clicks” and allows them to accept about fifty different cryptocurrencies as payment while being paid in Euros and never having to interact with the cryptocurrency market.
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