Shopify Introduces USDC Payments on Coinbase’s Base Network
- Shopify is launching early access to stablecoin payments using Circle’s USDC in collaboration with Coinbase.
- The full rollout will occur on Coinbase’s Ethereum layer-2 network Base later this year.
- Base is the fourth-largest network for USDC, accounting for approximately $3.66 billion of the total $61 billion supply.
- Shopify plans to offer buyer incentives like a future potential of a 1% cash back in local currency payouts.
- Shopify has supported Bitcoin payments since at least 2013 through gateway integrations.
Shopify’s integration with Coinbase’s Base network marks a significant step in expanding its cryptocurrency payment options, leveraging the fast and secure transaction capabilities of Base. This move aligns with Shopify’s ongoing efforts to incorporate digital currencies, having previously enabled Bitcoin payments for its merchants.
By collaborating with Coinbase, Shopify aims to streamline online transactions using stablecoins, potentially enhancing user experience with incentives like cash back offers. This partnership underscores Shopify’s commitment to embracing digital currency solutions as part of its payment ecosystem.(Source)
