Crypto Exchange Coinbase (COIN) venture further into the global payment business with the launch of Coinbase payments, the company said in a Wednesday blog post.
The service, built on Coinbase’s Ethereum Layer-2 network base, is already live with Ecommerce-Platform Shopify and was designed to bring stablecoin payments to merchants who support around the clock around USDC transactions without demanding any blockchain know-how, says the blog post.
The company’s movement is in line with the growing trend of stableecoin’s reshape the global payments. Payments companies like Stripe and PayPal debut products that use Blockchain -Tech under the hood for payments. Meanwhile, Crypto Native Businesses such as USDC are coming up with its payment network also into the increasingly competitive field.
It’s still an enticing option: Coinbase said stableecoins lightened $ 30 trillion in transactions last year and tripled the volume over year.
The new service integrates three modular components: Stablecoin Checkout lets customers pay using wallets such as Metamask, Phantom and Coinbase Wallet in a gas-free browser-native experience. The E -trading engine provides platforms an API to handle key functions such as authorization, refunds and scalp. And protocol with trade payments performs transactions through smart contracts, handling mechanics such as delayed capture or onchain escrow.
In practice, this means that merchants can accept USDC from global customers at any time of day without further setup and lower transaction costs. Coinbase says its tools repeat the feeling of traditional payment rails – etching, dispute management and recurring invoicing – while using onchain logic for speed and efficiency.
