GoMining Launches GoBTC Pay System for Bitcoin Payments
GoMining has launched its bitcoin payment protocol, GoBTC Pay, allowing merchants to accept payments directly in bitcoin. The protocol includes a software development kit and APIs, setting GoMining apart from competitors like Square, which typically convert bitcoin to fiat, according to CoinDesk.
GoMining introduced its GoBTC Pay system, a payment protocol designed to allow merchants to accept bitcoin (BTC) for everyday purchases directly. The rollout includes a software development kit (SDK) and application programming interfaces (APIs), aimed at enabling retailers to develop products using the system.
The GoBTC Pay system differentiates itself from competitors such as Block (formerly known as Square) by processing transactions entirely in bitcoin, instead of converting BTC into fiat currency, as is commonly done. Merchants using GoBTC Pay who prefer to receive fiat currency will need to manage the conversion themselves.
Mark Zalan, CEO of GoMining, emphasized the company's intent in an interview, stating, "Our idea isn’t to squeeze bitcoin into the old fiat experience and lose what makes it bitcoin along the way." He highlighted the company’s focus on addressing inherent issues with BTC payments, such as high fees and slow settlement times, while ensuring non-custodial services and on-chain finality.
The GoBTC Pay protocol settles transactions through GoMining's Stratum V2 mining protocol on the Bitcoin network, typically achieving settlement times of around 12 hours. Transaction fees for merchants are set at 0.2%, with the fee revenue split evenly between wallet providers and miners.
As part of its initial phase, GoMining plans to enlist 10 merchants to test the GoBTC Pay system. The company appears to be positioning itself for a growing demand for businesses wanting to retain bitcoin directly as a payment method rather than relying on fiat conversions.
With competitors like Block continuing to grow their own bitcoin payment solutions, including those that utilize the Bitcoin layer-2 network Lightning, GoMining’s strategy raises interesting questions about how the market might evolve. The contrasting approaches of receiving bitcoin directly versus converting it into fiat could influence how businesses choose to adopt cryptocurrency payment systems in the future.
Summary based on original reporting by Jamie Crawley at CoinDesk, originally published Jun 19, 2026. SolanaWire does not republish source content.
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