CoinGate Integrates Low-Cost Ethereum Layer 2, Optimism

We’re ready to introduce yet another update to our crypto payment rails – CoinGate now supports Optimism Layer 2 (L2) scaling solution on Ethereum! 

With this integration, merchants can now accept ETH and USDC payments via Optimism. Your customers will benefit from lower fees and faster transactions if used.

But that’s not all. Optimism is also available across all other CoinGate functions, which includes payouts, withdrawals, and refunds. 

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Why Add Optimism to Our Payment Processor?

For Ethereum, we already support Base and Arbitrum. Optimism is yet another promising Layer 2 solution because it significantly enhances Ethereum’s scalability while maintaining its security and decentralization. 

Here’s why it made sense for us to integrate it:

• Lower transaction costs – Optimism’s optimistic rollups bundle transactions off-chain, thus reducing congestion and lowering gas fees, which makes crypto payments more cost-effective for merchants and customers alike.
• Faster transactions – By processing transactions off-chain and only settling on Ethereum when necessary, Optimism enables near-instant transactions and improves the overall user experience.
• Ethereum compatibility – Optimism is fully compatible with Ethereum’s existing infrastructure, meaning developers, businesses, and users can interact with it without major changes.
• Decentralization and security – Unlike some alternative scaling solutions, Optimism maintains Ethereum’s security guarantees while improving performance, so it’s a trustworthy network for financial transactions.
• Expanding adoption – Optimism is widely supported in the Ethereum ecosystem and is gaining traction as a preferred scaling solution. Integrating it keeps us aligned with merchant needs and what users expect from us.

If you process crypto payments, issue payouts, handle withdrawals, or manage refunds, Optimism will help with reduced costs and improved transaction speeds if you decide to use it.

If you’re one of our merchants, note that Optimism payments are enabled by default, so you don’t need to take any extra steps to start benefiting from this upgrade. Simply continue using CoinGate as usual and enjoy the improved experience!

We will continue bringing you the best in crypto payments technology – stay tuned for more updates.