Webuy Global Ltd., a travel and e-commerce company, announced the integration with Coinbase Commerce to accept cryptocurrency payments, resulting in a significant surge in company shares.
Webuy Global Share Surge
Shares of Webuy Global surged nearly 100% on Monday, reaching approximately $10.94 from the previous close of $5.31. This increase was triggered by the news of the new payment option for customers to pay for tours and travel using cryptocurrency.
Integration with Coinbase
Webuy announced the addition of a feature that allows customers worldwide to pay for tours and products using a variety of digital tokens via Coinbase’s payment platform. CEO Bin Xue commented that 'offering stablecoin payments allows us to serve the evolving needs of international travelers with greater speed and convenience.'
Trends in Stablecoin Usage
According to reports, Webuy’s integration with Coinbase comes at a time of increasing interest in stable cryptocurrencies. In the U.S., Congress has just approved legislation to regulate stablecoins, which could drive broader corporate adoption. Experts indicate that stablecoin transaction volume over the past year has reached approximately $33 trillion, significantly exceeding PayPal's volume.
Webuy's deal with Coinbase marks an important step in using stablecoins to simplify international payments and highlights the growing interest in cryptocurrencies in the travel sector.
