- USDC payment rollout boosts Shopifyโs global reach.
- Seamless integration with no new merchant onboarding needed.
- Broader implications for stablecoin use in e-commerce.
Shopify has launched USDC payments through MetaMask, powered by Coinbase, benefiting e-commerce merchants globally. The integration allows seamless transactions across the Base network, with Stripe managing settlement and conversion functions. This new feature simplifies merchantsโ access to stablecoin payment options.
Shopifyโs New USDC Payment Integration
Shopifyโs new feature, integrating USDC (USD Coin) payments directly into the checkout flow, is highlighted by collaborations with Coinbase and MetaMask. Transactions occur on the Base network, providing fast and cost-effective processing for users worldwide. Coinbase powers the wallet integration allowing seamless transactions, while MetaMask supports user wallets for initiating USDC payments.
Stripeโs backend services handle conversions, supporting growing demand for stablecoin payments. Merchants can choose settlement options in local currency or retain USDC without engaging directly with crypto exchanges. By using the Base network, thereโs expected demand for ETH as gas, potentially increasing its usage.
The initiative might expand USDCโs footprint and enhance its acceptance in digital commerce. Gaining momentum, this development indicates a positive trajectory for stablecoin adoption and the role of Layer 2 solutions like Base in addressing e-commerce challenges globally.
Theyโre doing the same for stablecoinsโmaking it simple for our merchants to meet booming global demand without wrestling with crypto infrastructure. โ Kaz Nejatian, COO and VP of Product, Shopify
Potential implications reflect rising stablecoin volumes, as Stripe reports settling over $6.3 billion monthly. Merchants are shielded from volatility risks by settling in USDC or fiat, a model likely encouraging further similar integrations in the future.
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