The Fantom Foundation has integrated with crypto e-commerce platform Shopping.io to allow shoppers to purchase goods from major online retailers using Fantom’s native token, FTM.
From today, FTM holders can now use their tokens on Shopping.io to purchase items from a number of popular retailers including Amazon, Home Depot, eBay and Walmart.
The move to enable FTM holders to purchase online using cryptocurrencies signifies a “concerted move to facilitate mainstream crypto adoption” according to the platform, which so far remains the only international crypto onramp that enables users to spend cryptocurrencies on e-commerce websites.
Shopping.io founder and CEO, Arbel Arif, spoke of Fantom’s ability to further encourage crypto payment adoption.
“Fantom is among the most reputable, exciting platforms in the space, so we could not be more excited to deliver this integration,” he said.
“With their significant community support, we firmly believe this is a major leap toward crypto adoption and evolution.”
Cryptocurrency payments have become increasingly popular in recent months thanks to major integrations from payment providers like Visa and Mastercard alongside WhatsApp, Tesla and JPMorgan also exploring cryptocurrency payment options.
An array of other brands including online retailer SHOP.COM, movie theatres and hotels have also started to accept cryptocurrency payments.
Now, an estimated 46 million crypto holders plan on making purchases using their digital assets, with another 42 million non-owners considering buying cryptocurrency to make future purchases according to research from PYMNTS.
However, despite the increased demand and usage of cryptocurrencies, more than 50% of crypto owners say not enough online merchants accept digital asset payments.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.