Online merchants who sell through Shopify are now able to authenticate Crypto.com Pay on their online storefronts, allowing customers to purchase using cryptocurrencies more easily.
As a part of the collaboration, Crypto.com has announced they will be waiving the 0.5% settlement fee for every Shopify merchant for one month when they sign up for Crypto.com Pay before June 30th.
Online merchants who use Crypto.com Pay will not be required to pay set up costs and can start selling using a variety of tokens such as Cronos, Shiba Inu, Bitcoin and Ethereum within a few minutes.
The lead of the blockchain ecosystem at Shopify, John S. Lee, stated:
“Our growing blockchain ecosystem demonstrates our commitment to supporting merchants with alternative payment methods on their storefronts, helping to further expand what’s possible in commerce.”
Earlier this month, Crypto.com made the decision to cut its customer rewards, which resulted in the price of its CRO token drop 11% in just two hours, with it falling more than 22% by the following day.
People who were locking in at least $400,000 worth of crypto were known as the top Obsidian tier, and rewards for these customers dropped from 8% to 2% in just one month, then completely being removed at the lowest tiers. Although the decision aimed to “move closer to long-term sustainability of our card program”, according to the co-founder and CEO of Crypto.com, Kris Marszalek.
Marszalek also stated in the company’s press release earlier this year that
“Providing more customers and merchants the ability to engage in commerce using cryptocurrencies is a priority for Crypto.com.”
