Paylot.co, a crypto payment gateway for African and foreign merchants, has added on the Binance Coin (BNB) and the BUSD stable coin to its payment options.
This comes after months of intense hard work, testing and troubleshooting.
Prior to the integration of the Binance Coin and BUSD, Paylot had already integrated all other major crypto currencies like Bitcoin (BTC), Bitcoin Cash (BCH), EThereum (ETH) and Litecoin (LTC) on their payments platform.
This new addition goes on to expand the options available to merchants and their customers on the platform.
For the millions of users on the Binance platform, this is great news because they now have a lot more options to utilise their Binance Coin. They can now spend it on things that matter to them, thanks to the Paylot payments gateway.
This also increases the overall value of the Binance Coin, as it is no longer a store of value, but a sort of legal tender that can be used in exchange for goods or services.
For the merchants on the Paylot platform, and the new merchants that will get on board, this increases their potential reach as business people because they can now receive payments in a coin owned by millions of users worldwide.
Initially, merchants get settled in Naira (only those in Nigeria), merchants in Nigeria and other countries get settled in stable coins like USDT, USDC, Pax, and the major crypto currencies that is accepted on the platform like BTC, ETH, BCH, LTC.
With this new addition, not only can merchants receive payments in BNB and BUSD, they can now get settled in BNB and BUSD as well, whether they are Nigerian merchants or not.
For the entire crypto community, this is good tidings. It shows one thing, Blockchain and cryptocurrency mass adoption and visibility is growing steadily and impressively.
It is also providing us with more avenues to utilise our digital assets.
Going forward, Paylot.co has promised to actively bring to the marketplace more solutions to keep improving the tech, business, and ecommerce ecosystem using the power of the blockchain and cryptocurrencies.