Amid the growing exposure of issues in traditional payment systems, crypto payments are rapidly gaining popularity among enterprise users due to their advantages of low fees, high flexibility, strong security, fast settlement, and zero chargeback fraud. At the same time, these benefits align with consumers’ preferences for mobile payments. In fact, the stability of stablecoins (such as USDT, USDC) and the widespread use of high-liquidity tokens are enabling crypto payments to cover a wide range of scenarios, from small purchases to large transactions. By the end of 2024, driven by favorable factors such as the Bitcoin ETF and elections, the number of global crypto users is expected to exceed 420 million, with a total market cap surpassing $3.7 trillion. Cryptocurrencies are becoming a key focus for capital markets and financial institutions, while crypto payments are entering a new phase of development opportunities.
Challenges in Crypto Payments
Although crypto payments have immense market potential, they still face several challenges in widespread adoption. In fact, enterprise users are often the primary drivers of crypto payments, and the simplest implementation method is through P2P interfaces to directly transfer crypto addresses. However, this approach does not fully meet business needs:
- Users must make transfers through crypto wallets, raising the entry barrier, which is only suitable for crypto users and not friendly to non-crypto users (although this issue will gradually ease as the number of crypto users grows).
- Merchants must store crypto assets themselves, facing the dual risks of private key security and price volatility.
- Pseudo-anonymous account addresses increase the complexity of transaction tracking and customer management, requiring additional clearing and settlement systems.
- Payees may lack trust in this method.
- Some regions may face compliance barriers.
Apart from businesses developing their own interfaces, third-party payment services (such as crypto-supported credit/debit cards, or services like Binance Pay, etc.) may meet some needs, but still fall short in flexibility and coverage. Fundamentally, the lack of infrastructure is the core issue hindering the scale of crypto payments.
To address this challenge, Pantera Capital launched the innovative financial infrastructure M^0 in 2023, building a decentralized liquidity management and asset settlement system to create an efficient and transparent bridge between traditional finance and cryptocurrencies. In 2024, Pantera introduced MIRO, the first Layer 2 payment ecosystem based on Bitcoin, which utilizes the security of the Bitcoin network and Layer 2 technology to significantly improve transaction speed, reduce costs, and solve Bitcoin payment scalability issues, providing an efficient solution for global payment scenarios. This initiative highlights Pantera Capital’s core position in promoting the adoption of Bitcoin payments and blockchain innovation while opening a new chapter for the institutional development of DeFi.
MIRO: Building the On-chain Payment
MIRO itself is an encrypted payment infrastructure built on the Bitcoin ecosystem. MIRO operates as a Layer 2 solution, and through a series of technical solutions such as zero-knowledge proofs, modularization, AI, and account abstraction, it builds a new distributed on-chain Bitcoin smart payment engine to address the challenges in the crypto payment space and accelerate the adoption of crypto payments.
From the perspective of C-end users, MIRO is a seamless crypto payment tool that can provide a seamless experience based on the engine’s smart payment gateway, offering crypto payment solutions to any user with crypto payment needs. MIRO is especially suitable for small online payment scenarios, supporting the majority of online and offline payment scenarios via Bitcoin by converting intent layers, with wide versatility and ease of use. For B-end users such as developers, merchants, and enterprises, MIRO launches a series of on-chain payment suite tools that allow crypto payments to integrate seamlessly into various scenarios while ensuring compliance and privacy, exploring new profit models.
Currently, based on the underlying payment engine of MIRO, MIRO has also launched global cross-gateway payment products MIRO Pay and MIRO Pay Card as payment entry points. With these payment tools, users can seamlessly pay in various scenarios using Bitcoin and other crypto assets, and B-end users can expand their crypto payment capabilities and scenarios at any time.
MIRO: A New Gateway for Billion-User Crypto Payments
The crypto payment sector is backed by a blue ocean market. The number of crypto holders is growing exponentially, with nearly 500 million people already holding crypto assets. These users are likely to become the core user base for crypto payments in the future. With the gradual improvement of crypto payment infrastructure, this sector is expected to experience rapid growth.
MIRO is committed to building the next-generation crypto payment infrastructure, backed by the trillion-dollar blue ocean market, with immense potential. Through technological innovation, MIRO not only simplifies the complexity of crypto payments and makes them more user-friendly, but also promotes deep integration of crypto payments in various scenarios through open API interfaces and SDKs. As a key driver of the crypto payment trend, MIRO is providing billions of users with convenient crypto payment gateways, accelerating the widespread adoption of crypto payments and creating a new industry landscape.
- Official Site: miropay.io
- Dapp URL: dapp.miropay.io
- TW: https://x.com/MIRO_Pay
- TG: https://t.me/MIROGlobal
Disclaimer:
This content is for informational purposes only. Information verification has been done to the best of our ability. Still, due to the nature of the blockchain (cryptocurrency, NFT, mining, etc.) sector as a whole, you are advised to conduct your own additional research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence.