GoMining unveils GoBTC payments protocol with 0.2% merchant fee
GoMinings GoBTC protocol promises instant authorization and on-chain Bitcoin settlement with a 0.2% merchant fee, positioning miner-run rails as a low-cost challenger to Visa and Mastercard.Bitcoin mining company GoMining plans to launch GoBTC, a Bitcoin-native payments protocol built on top of its own block production, at the Consensus conference.GoBTC will offer instant authorization and settlement on the Bitcoin mainnet within a few hours, charging merchants a 0.2% fee — far below the roughly 1.5%–3.5% average for Visa and Mastercard.The company pitches the protocol as a direct challenge to incumbent card networks, using block space and mining rewards to compress the traditional fee stack. According to Forbes, GoMining will formally debut its GoBTC payment protocol at this years Consensus event, marketing it as a “Bitcoin-native alternative to Visa and Mastercard” that the firm can operate because it controls a meaningful share of hash rate. The protocol is designed so that merchants receive “instant authorization” at checkout while settlement finalizes directly on the Bitcoin mainnet within a few hours, leveraging the underlying blockchains confirmation process instead of card-network clearing and batch settlement. For pricing, GoMining says GoBTC will charge merchants a 0.2% processing fee, an order of magnitude lower than the combined 1.5% to 3.5%