DATA & FIGURES
The GoBTC Pay system boasts an average settlement time of around 12 hours, with merchants paying 0.2% in transaction fees, which are shared 50-50 between wallet providers and miners. Current market prices include BTC$62,790.08, down 1.74%, CD20$1,700.84 down 2.70%, ETH$1,693.40 down 2.38%, XRP$1.13 down 2.42%, and SOL$68.56 down 3.33%.
THE SCENARIO
The introduction of GoMining's payment system occurs within a competitive landscape where companies like Block's Square are also rolling out bitcoin payments services. However, GoMining differentiates itself by ensuring that transactions are completed entirely in bitcoin, which could attract businesses looking to retain BTC directly.
DIRECT QUOTE
"Our idea isn't to squeeze bitcoin into the old fiat experience and lose what makes it bitcoin along the way" — Mark Zalan, CEO, GoMining
BBN INSIGHT
The move by GoMining to challenge Square with a pure BTC payment rail indicates a growing confidence in bitcoin as a viable payment method. This development could contribute to increased adoption of bitcoin for merchant transactions, potentially driving more businesses to consider holding BTC as part of their treasury strategy.