Coinbase Launches Coinbase Payments for Stablecoin Transactions with Shopify

Coinbase (COIN) has launched Coinbase Payments, expanding into the global payments sector. This service operates on Coinbase's Ethereum layer-2 network, Base, and is already integrated with Shopify.

• Facilitates stablecoin payments, particularly USDC, for merchants
• Allows 24/7 transactions without requiring blockchain expertise
• Supported by a growing trend in stablecoin usage, with $30 trillion in transactions last year, tripling from the previous year

The service features:

• Stablecoin Checkout for seamless payments via wallets like MetaMask and Phantom
• Ecommerce Engine providing an API for functions such as authorization and refunds
• Commerce Payments Protocol using smart contracts for transaction execution

This enables merchants to accept USDC globally at lower costs while maintaining traditional payment functionalities.