Cryptocurrencies
Solana Adds Payment Feature Amid Crypto Network Congestion Woes
- Solana Pay to be integrated with Checkout.com, others
- Popular token-trading blockchain has had congestion issues
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Solana, the popular blockchain that has recently been plagued by congestion problems, said it’s adding a payment service that will allow direct use of dollar-backed cryptocurrencies.
Solana Pay aims to let brick-and-mortar and online merchants and their customers settle transactions with a variety of Solana-based tokens, such as the USDC stablecoin. The service -- which is billed as being decentralized and not owned by anybody -- plans to offer instant settlement, fraud protection for merchants and near-zero cost. It will be integrated with Checkout.com and is used by Bandago Van Rental, a rental-car company.