The world of digital assets is all suited up to embrace positive changes and events in the business. Whilst crypto assets from the business’s directory have been portraying constructive candles. Which has brought in a glimpse of hope amongst folks from the crypto town. The space’s seventh-largest cryptocurrency Solana has been striding into the talks of the business again.
This time around, the digital asset is in talks following the Solana team introducing their payments platform Solana Pay. Which has caught the interests of the Solana community and that of savvies from the business. On the other hand, the greener price movements are accompanied by the network’s native wallet Phantom’s victorious fundraising event.
Will Solana’s Growing Utility Help It Reclaim The 6th Position?
The Solana team has introduced its payments platform Solana Pay for digital commerce. Which is a decentralized, secure, and open-source platform for the next generation of merchant payments. Solana Pay is developed in a collaborative effort between Solana Labs, Circle, Checkout.com, Citcon. And the wallet integrations are assisted by Phantom, FTX, and Slope.
Solana Pay eases out the acceptance of digital assets like USDC, and any other Solana SPL token, for a fraction of costs, barred from mediators. The application lets merchants generate requests for transactions with apposite metadata. Users can approve this transaction using their web wallets, or by scanning a custom-generated QR code.
In addition, accepting USDC and other digital assets gives the merchants access to the benefits of the Solana ecosystem. Such as Instant settlement, Defi yield opportunities, Zero payment fraud liability, and ownership of the customer relationship.
Moreover, the steady incline in prices has been fueled by Phantom, which is Solana’s native wallet. Phantom has concluded its victorious fundraising event. The team had previously brought light to its $109 M Series B funding round, which was led by Paradigm. Projects from the stable of Solana have been escalating at a brisk pace. Successively, Coinbase has announced it accepts inbound transfers of Orca (Orca) and Bonfida (FIDA).
Summing up, Solana escalating at diverse fronts despite its curbs, is a praisable feat. The network’s latest entrant Solana Pay, alongside its pride-worthy projects has been instilling faith amongst users over the congestion in the network. The developmental works revolving around the network congestion once out would be turntable for the network.
Source: https://coinpedia.org/altcoin/sol-price-primed-to-hit-250-this-quarter/