We have added support for market-leading stablecoin, USDC, on the Solana layer 1 blockchain protocol, as part of our crypto-commerce payment gateway solution.
Solana is quickly emerging as a superior next-generation public blockchain, and having USDC natively on it provides breakthrough scalability, speed and cost efficiency in delivering payments.
Currently, our most transacted stablecoin is USDT on Tron and we expect USDC on Solana to generate just as much demand in the coming months. Both of these high-performing blockchains, Solana and Tron, enable merchants to benefit from dramatically increased player/trader transaction speeds and substantially reduced network fees.
On the importance of integrating with stablecoins, Orbital’s co-founder and Chief Innovation Officer, Luke Wingfield Digby says: “Bitcoin is dead for ecommerce payments. Online merchants should now be focussing on accepting stablecoins on their checkout pages. They should specifically be looking for stablecoins on blockchains which are fast and have low gas fees, such as Solana and Tron. Consumers are altogether put off when faced with high gas fees on blockchains like Ethereum which can be anything from $25-50 per transaction or worse depending on network congestion.”
Gone are the days when merchants were forced to pay overpriced fees to traditional financial networks like Visa and Mastercard, who charge around 3%+ per transaction. Solana and Tron networks benefit from incredibly low fees, averaging just a few cents per transaction, and ultra fast transactions because of the speed of the blockchain.
The low-down on stablecoins
Whilst cryptocurrencies tend to suffer from high volatility, which can be discouraging for merchants considering adopting them as part of their payment operations, stablecoins offer the best of both worlds, as they are pegged to fiat currencies providing more stability in value than traditional cryptocurrencies. Making up 90% of all crypto payments, we have made stablecoins our speciality and will continue adding support for the newest and best stablecoins.
As well as USDC on Solana, we offer several other stablecoins and blockchains, such as USDT on Tron and USDC on Ethereum.
If you’d like to discuss integrating any of the above stablecoins, or if you'd like to see our full list of cryptocurrencies, please book a call with our team where we can discuss which currencies are most prevalent in your markets.
