Key facts
- GoMining launched a new payment protocol called GoBTC Pay.
- GoBTC Pay enables merchants to accept Bitcoin directly.
- The protocol does not automatically convert Bitcoin to fiat.
- GoBTC Pay aims to rival Block's Square.
- The system includes an SDK and API for integration.
- GoMining is a Bitcoin mining firm.
Bitcoin mining firm GoMining has introduced GoBTC Pay, a new payment protocol that enables merchants to accept Bitcoin directly. This system is designed to compete with Block's Square by offering a Bitcoin-native payment experience, allowing businesses to receive Bitcoin without automatic conversion to fiat currency. The GoBTC Pay protocol features an SDK and API, facilitating integration for merchants who wish to adopt Bitcoin payments. This move by GoMining aims to capture a segment of the payment processing market by catering to businesses and customers who prefer to transact in Bitcoin. The protocol's architecture supports direct Bitcoin transactions, which could appeal to users seeking to avoid the volatility associated with immediate fiat conversion. By providing these tools, GoMining seeks to foster wider adoption of Bitcoin for everyday commerce.