GoMining launches GoBTC, a Bitcoin payment protocol with 0.2% fees, challenging Visa and Mastercard.

GoMining announced GoBTC, a Bitcoin-native payment protocol offering instant authorization and on-chain settlement within hours, charging merchants a low 0.2% fee compared to Visa and Mastercard's 1.5%-3.5%. By leveraging its control over Bitcoin mining hash rate, GoMining aims to reduce payment processing costs significantly, positioning GoBTC as a direct competitor to traditional card networks. If successful, this could pressure existing crypto gateways and card processors by providing a cheaper, blockchain-based alternative for merchants. The launch at the Consensus conference highlights growing innovation in payment rails using Bitcoin's blockchain infrastructure.