Giant Companies Supported: This Altcoin Brought the Good News!

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A new peer-to-peer payment protocol has been launched on the popular altcoin Solana. Solana Pay is now available with support from Circle, FTX and Phantom. Solana Pay is a decentralized payment protocol built on top of the Solana blockchain. It enables traders and e-commerce platforms to accept payments via crypto wallets.

Good news from popular altcoin Solana

Solana now has its own decentralized payment protocol. Solana Pay will allow customers and traders to use digital assets such as Circle’s USDC stablecoin for payments and sales. Solana Labs has launched a decentralized payment protocol for traders and consumers. Solana Pay is a peer-to-peer service that allows traders and customers to accept and move Solana-compliant digital assets such as USDC anywhere, anytime. It runs on the Solana blockchain and was developed with support from Solana Labs, Checkout.com, Circle, and Citcon. Phantom and FTX are integrating the service through their digital wallets. To start using the service, traders will need to activate a barcode so customers can make payments from their cryptocurrency wallets. Sheraz Shere, Head of Payments at Solana Labs, said the product “transforms outdated one-way transaction patterns into strong, two-way trader-consumer relationships, providing brands and retailers a direct channel to surprise and delight their customers in new ways.”

Circle’s Jeremy Allaire said the Solana Pay launch is “a critical step towards expanding access and usage for traders and customers who want to join the rapidly evolving environment for the next generation of payment technology.” Circle-issued stablecoin USDC was set as the primary medium of exchange on Solana Pay at launch, but with the help of Phantom and FTX, many other Solana-compatible digital assets could gain traction on the protocol in the future. Circle’s support for the product is the latest in a series of big moves in the payments space after the firm partnered with both Visa and Mastercard last year.