Helio Pay, a leading crypto payments platform, has announced an expansion of its Solana Pay integration on Shopify. It now supports multiple blockchain networks, including Bitcoin, Ethereum, and various Layer 2 solutions.

The enhancement allows merchants to accept a wider range of cryptocurrencies, offering customers more payment options while streamlining transaction management.

Helio Pay Expands Multichain Payment Options for E-Commerce

According to the announcement, the multichain approach seeks to attract a broader audience, particularly customers familiar with Bitcoin and Ethereum, while streamlining merchants’ payment processes.

Solana Pay on @Shopify just went multichain!

Now on Solana, Bitcoin, Ethereum & L2s.

Merchants are already accepting millions in crypto payments with @Solana Pay.

Now we're offering the same secure and user-friendly checkout experience on even more chains! pic.twitter.com/2O2iHfANiS

— Helio | Sell More With Crypto (@helio_pay) November 5, 2024

“We will offer buyers the flexibility of paying on Bitcoin, Ethereum, and more whilst merchants still settle on Solana,” Helio CEO and co-founder Stijn Paumen said.

The development aligns with the growing trend in e-commerce to integrate blockchain solutions for payment flexibility.

Helio Pay hopes to appeal to merchants and customers interested in diverse payment options within the crypto space by supporting multiple blockchain networks.

Since its founding, Helio Pay has relied on Solana for its speed and cost-effectiveness, establishing it as the default network.

Over 1,000 Shopify stores currently use Helio Pay, which now claims to offer one of the most seamless crypto checkout experiences.

While Solana is known for its transaction speed and affordability, Bitcoin and Ethereum are still the two largest cryptocurrencies by market cap, providing customers with broader payment choices.

The expanded platform enables merchants to accept payments in Solana, Bitcoin, Ethereum, and Layer 2 networks, allowing businesses to cater to a wider audience and simplify the process for customers to pay with their preferred digital assets.

Helio Pay’s platform also includes features like NFT-based loyalty programs that provide exclusive discounts, Discord gating, and listing for community engagement.

Shopify merchants can process crypto payments more efficiently by integrating with Solana Pay, utilizing Solana’s high-speed and low-cost transaction capabilities.

With this update, merchants can manage all crypto payments from a single dashboard, streamlining operations and enhancing customer options.

E-Commerce Revolution: Helio’s Solana Pay Plugin Brings Blockchain Efficiency to Shopify

On July 13, Crypto payments platform Helio announced an update to its Solana Pay plugin for Shopify, allowing millions of merchants to accept payments in hundreds of cryptocurrencies.

This upgrade includes broader token support, enhanced loyalty programs, and seamless integration, strengthening the Solana-based payment service.

Paumen emphasized the advantages of Solana Pay, highlighting super-fast, blockchain-secured payments that eliminate traditional intermediaries like banks.

This shift aims to reduce high fees, chargeback rates, and slow payouts, enhancing the e-commerce experience.

Initially launched last year, Helio’s Solana Pay plugin processed approximately $50 million in transactions for over 200 stores within six months, saving merchants over $1 million in fees.

Merchants can accept payments in cryptocurrencies like SOL or BONK while receiving stablecoin payouts, which can be converted to fiat and sent to their bank accounts.

With a transaction fee of just 0.75%, lower than traditional methods, Helio aims to make crypto payments more accessible and user-friendly for everyday transactions.

The post Helio Pay Leverages Solana’s Power  to Expand Crypto Payments on Shopify appeared first on Cryptonews.

Cyprus’ financial regulator, the Cyprus Securities and Exchange Commission (CySEC), has postponed hopes of a Sam Bankfied-Fried-linked firm resuming operations there.

In a November 5th written notice, the watchdog said it had extended its suspension of FTX (EU) Ltd’s CIF license until May 30, 2025. CySEC explained it had taken the decision to allow the firm time to comply with the nation’s investment laws.

Part of CySEC’s notice reads:

The Cyprus Securities and Exchange Commission announces that the suspension of the authorization of the Cyprus Investment Firm FTX (EU) Ltd is extended until 30.5.2025 for the company to proceed with the relevant provisions of The Investment Services and Activities and Regulated Markets Law of 2017.

~CySEC

CySEC’s notice also outlined the rules that FTX (EU) must follow. For instance, the company can’t engage in investment activities, including advertising its services and accepting new clients. However, it can complete all transactions with its clients’ approval. Again, the firm must reimburse its customers’ funds and assets. 

How did FTX (EU) get here?

FTX (EU) Ltd is no stranger to controversy. Its woes date back to early 2022 when CySEC first suspended its operations. The issue in contention then was the exchange’s purported failure to protect client assets. The regulator had also expressed misgivings about the suitability of its management.

Things took a turn for the worse with the collapse of its parent company in America. An SBF-orchestrated fraud saw the American unit crumble and file for bankruptcy. That sent shockwaves reverberating through the FTX global empire, sweeping away its Cyprus business and other outfits.

FTX (EU) would soon file for bankruptcy, leaving the regulator no choice but to suspend its operations in late December 2022, running to March 31, 2023. With things not improving for the exchange, CySEC extended the suspension until September 30, 2023

Subsequent reviews saw the watchdog prolong the exchange’s suspension first to March 31, 2024, then to September 30, 2024. It is the latest of these extensions that will keep the exchange off business til mid-2025

The company had announced plans to refund its customers

CySEC’s notice comes at a time when FTX had announced plans to refund its customers their funds. Its parent company has also struck deals to reimburse customer funds. Its liquidators have also received a US court’s nod to sell off its other units, including the Cyprus one.

For now, the exchange’s clients can only wait in the hope of a timely conclusion to their ordeal.