Coinbase has launched a stablecoin payments solution to facilitate the acceptance of USDC by online merchants globally.
Currently live with Shopify, Coinbase Payments simplifies the blockchain complexities surrounding stablecoin transactions, enabling payment service providers and marketplaces to implement it swiftly.
The system features a quick, wallet-native checkout for USDC payments compatible with various wallets, including Coinbase Wallet, MetaMask, and Phantom. An API layer supports merchant platforms and payment service providers by managing authorization, capture, refunds, ledgering, subscriptions, and key management. Additionally, open-source smart contracts ensure secure and scalable on-chain transactions.
Stablecoins are becoming increasingly mainstream, with Citi predicting that their total supply could rise from $230 billion to between $1.6 trillion and $3.7 trillion by 2030. Recently, the US Senate passed stablecoin legislation, and Visa indicated that every institution handling money will require a strategy for this emerging asset class.