GoMining introduces GoBTC Pay, a protocol enabling merchants to accept bitcoin directly without fiat conversion.
GoMining released a software development kit and APIs for GoBTC Pay, a bitcoin payment protocol allowing merchants to accept BTC for transactions. Unlike competitors such as Square, the system settles payments in bitcoin by default, avoiding fiat conversion unless requested by the retailer.
The protocol aims to address issues like high fees and slow settlement times while maintaining non-custodial and on-chain finality. Most existing payment systems convert bitcoin to fiat before reaching merchants, a process GoMining’s CEO criticized as diluting bitcoin’s core advantages.
GoMining plans to expand merchant adoption through its SDK and API access, positioning itself as a direct competitor to established payment processors in the cryptocurrency space.