Shopify has announced the early access to stablecoin payments through Circle’s USD Coin (USDC) in collaboration with cryptocurrency exchange Coinbase. The integration is currently being tested on Coinbase’s Ethereum Layer-2 blockchain, Base.
Reasons for Choosing Base for Integration
Base is the fourth largest blockchain for USDC, accounting for 6% of the stablecoin’s total supply of $61 billion. Known for its low-cost and high-speed transactions, Base allows Shopify to offer a 24/7 global payment infrastructure.
A Long Crypto History at Shopify
Shopify has over a decade of experience in cryptocurrency, enabling merchants to accept Bitcoin as far back as 2013. The platform now supports nine alternative crypto payment methods.
Prospects and User Reactions
The Base integration signals Shopify’s intent to modernize online payments. Some users have questioned the choice of the network, calling for broader multi-chain support to widen merchant access.
The launch of the USDC payment feature and collaboration with Coinbase demonstrates Shopify's commitment to innovation in online commerce. The platform continues to explore blockchain technologies for faster and cheaper transactions.
