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Will Shopify’s New Cryptocurrency Partnership Widen Its Moat?

Leo Sun, The Motley Fool
·4-min read
Will Shopify’s New Cryptocurrency Partnership Widen Its Moat?

Shopify's (NYSE: SHOP) platform allows its merchants to accept payments in bitcoin, Litecoin, Ethereum, and over 300 other types of cryptocurrencies. It recently expanded that reach by partnering with cryptocurrency payments processor CoinPayments, which helps merchants process 1,800 types of cryptocurrencies. Shopify claims the partnership will "make cryptocurrency transactions easier and more accessible while reducing transaction fees."

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