Crypto payment company CoinGate will pull the XRP plug. Lithuania-based cryptocurrency payment provider CoinGate made a statement on January 15 about the cut of support for the token XRP issued by Ripple Labs.
What does it mean to stop support?
This means that over 4,000 traders will no longer be able to accept cryptocurrency through this service.
While the exact reason behind the cessation of support for XRP has not been specified, it is clear that it is clearly related to Ripple’s legal fight with the US Securities and Exchange Commission.
CoinGate, launched in 2014, made it possible for businesses around the world to receive payments with Bitcoin and various altcoins. As of now, it supports more than 50 cryptocurrencies.
BitPay, a leader in the cryptocurrency payments business with over 50,000 merchants, did not make a similar move after adding support for XRP a year ago.
Hard days await XRP
Numerous major exchanges will suspend or remove XRP trading pairs. Binance.US users will not be able to deposit the token as of today.
Uphold, Bittrue and Gatehub are among the very few XRP-friendly exchanges that have refused to quit XRP until the Ripple complaint is rejected by the court.