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EU Crypto Payment Processor To Remove XRP Following The SEC Charges

Over 4,000 merchants won’t be able to use XRP as the Lithuanian-based cryptocurrency processor CoinGate will remove the token as of January 15th.

European cryptocurrency payments company CoinGate has joined the likes of Coinbase and Binance US to remove Ripple (XRP) from its services. The firm justified its decision with the SEC charges brought on the payment processor as many of its partners had already stopped doing utilizing the XRP token.

CoinGate Removes XRP

Headquartered in Lithuania, CoinGate enables bitcoin, ETH, and other digital assets to be used as a means of payment with traditional merchants. The company has a reported merchant base of over 4,000 participants.

Earlier today, CoinGate announced on its Twitter account that it will suspend trading and payment processing in Ripple’s native cryptocurrency XRP as of January 15th, 2021.

Nevertheless, the firm reassured its customers that all XRP holdings are safe, and they can securely withdraw them “until further notice.”


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