With cryptocurrency adoption rapidly expanding in various industries all over the world, more and more merchants have started accepting crypto as a form of payment. Among these cryptocurrencies is Shiba Inu, the dog-themed altcoin, which has gained another direct use case through a new feature introduced by NOWPayments.
The non-custodial payment gateway NOWPayments earlier this week announced a new feature that provides support to the Shiba Inu community and businesses accepting SHIB as a form of payment. In collaboration with the crypto exchange Switchere, this latest auto-conversion feature allows merchants to directly exchange their SHIB for fiat without needing third-party mediation or “intermediary transactions.”
With this feature, merchants can charge their clients in SHIB and get paid in fiat -a new feature that saves business owners time and effort and prevents any hassles. In a new blog post, NOWPayments has offered a step-by-step process on how businesses can enjoy this new feature.
The payment gateway also rolled out Plug-ins, another feature that simplifies the acceptance and processing of cryptocurrency payments. “Our crypto payment gateway can easily integrate into major CMS solutions like WooCommerce, Magento 2, Zencart, OpenCart, and WHMCS,” the blog read, noting that those businesses with online stores can enable payment in crypto by simply installing one of the company’s plug-ins.
NOWPayments introduced a feature earlier this year that allows businesses a portion of the revenues they receive in the form of SHIB or LEASH. LEASH, also known as the “DOGE-killer,” was designed as the rebase token and the token of the Shiba Inu decentralized exchange ShibaSwap.
The non-custodial payment gateway was one of the first companies to support Shiba Inu transactions. It was the first platform to roll out SHIB support to its merchants in the early part of 2021–long before the dog-themed altcoin surged in popularity, which kickstarted the trend and saw other platforms following suit.
Last year, NOWPayments complimented Shiba Inu noting how it has “always admired that SHIB has a strong vision and a plan.” SHIB was trading down 3.58% at $0.00001015 with a 24-hour volume of $285,056,967 as of 1:50 a.m. ET on Wednesday, according to the latest data by CoinMarketCap.