According to Golden Finance, two announcements released on Thursday show that e-commerce giant Shopify has reached cooperation with Coinbase, a key player in the cryptocurrency field, and payment processor Stripe, aiming to help merchants more conveniently accept the US dollar stablecoin USDC issued by Circle for payment.
Stripe stated in a press release that shoppers will be able to use their preferred crypto wallets to complete payments using USDC on Base (a blockchain platform supported by Stripe). Moreover, by default, Stripe enables merchants to receive stablecoin payments in their preferred local currency. Subsequently, these payments will be deposited into the merchants’ bank accounts, just like any other regular payments they receive.
According to Stripe, this service will be available to Shopify merchants in 34 countries and regions. Over the past two years, the cumulative amount of stablecoin payment and settlement has exceeded 94 billion US dollars. During this period, the monthly payment amount has rapidly grown from less than 2 billion US dollars initially to over 6.3 billion US dollars now, demonstrating the strong development momentum of stablecoin payments.
As a well-known cryptocurrency trading platform, Coinbase’s collaboration with Shopify and Stripe this time will further expand the application scenarios of the USDC stablecoin. As a stablecoin pegged 1:1 to the US dollar, USDC is highly favored in the cryptocurrency market due to its price stability. This cooperation is expected to bring consumers a more diversified and convenient payment experience, and at the same time open up new payment channels for merchants and improve transaction efficiency. For the cryptocurrency industry, this collaboration marks an important step forward for stablecoins in the e-commerce payment sector, which may encourage more merchants to embrace cryptocurrency payments and promote the integration of cryptocurrencies with traditional business. At present, the specific details of the launch of the relevant services and the subsequent market response remain to be further observed.
Related Topics:
