Bitcoin mining company GoMining launches payment protocol GoBTC, challenging Visa and Mastercard with a 0.2% merchant fee rate

According to Forbes, the Bitcoin mining company GoMining plans to launch its Bitcoin native payment protocol GoBTC, based on its own block production, at the Consensus conference.

The protocol offers users instant authorization and settlement on the Bitcoin mainnet within a few hours, charging merchants a fee rate of 0.2%, which is an order of magnitude lower than the 1.5% to 3.5% rates of Visa and Mastercard.