Shopify joins forces with Coinbase and Stripe to promote global payment applications of USDC stablecoin

E-commerce platform Shopify recently announced a partnership with Coinbase and Stripe to jointly promote the implementation of stablecoin-based payment services around the world. According to the agreement, Shopify merchants will be able to accept USDC stablecoins issued by Circle as a payment option. The initial service covers 34 countries, and the payment channel relies on the Base blockchain network.

The service supports consumers to complete settlement with USDC, while allowing merchants to convert the received crypto assets into local fiat currency and automatically deposit them into bank accounts without deploying on-chain wallets or crypto infrastructure themselves. This function will be supported by Stripe and Coinbase to provide underlying clearing and conversion support, lowering the technical threshold for merchants to enter the crypto payment field.

Shopify COO Kaz Nejatian said: "This cooperation provides merchants with a solution that does not require coding or managing private keys, allowing them to follow the growing trend of stablecoin payments and receive income in traditional ways."

Coinbase announced that it will jointly launch a new mechanism called "Commerce Protocol" with Shopify, which aims to eliminate the current structural barriers to crypto payments in terms of availability, settlement speed and tax processing. The protocol plans to achieve seamless access to multi-chain assets and more wallets in the future, and enhance the practical usability of cryptocurrencies in e-commerce and B2B settlement.

In recent years, the application of stablecoins as a new payment medium in global payments and cross-border settlements has continued to expand. Circle's USDC has attracted much attention due to its compliance positioning and dollar-pegged attributes. This cooperation is also regarded by the industry as an important symbol of the integration of encrypted payment technology and mainstream e-commerce platforms.