US-based cryptocurrency exchange Coinbase has officially launched Coinbase Payments, a stablecoin-centric payment service designed for global e-commerce. Built around USDC settlements, this solution enables near-instant cross-border transactions with fees under $0.01. Through a strategic partnership with Shopify, Coinbase aims to integrate stablecoin payments into mainstream online commerce.
What Is Coinbase Payments?
Positioned as the first stablecoin payment solution tailored for large-scale e-commerce, Coinbase Payments simplifies on-chain transactions while minimizing costs. Its architecture consists of three layers:
- Stablecoin Checkout: Supports 100+ wallets (e.g., Coinbase Wallet, MetaMask, Phantom) with gasless transactions.
- E-Commerce Engine: Handles authorization, capture, refunds, ledger management, and subscriptions via API.
- Commerce Payments Protocol: Executes payment logic (escrow, delayed capture, refunds) on Base blockchain.
"Coinbase Payments eliminates the need for merchants to build blockchain infrastructure. Businesses can accept USDC directly or convert it to local fiat at checkout—without foreign exchange fees."
Key Features
- Sub-$0.01 transaction fees
- 0.5% merchant fee (vs. traditional 2–3%)
- 1% consumer cashback and 0.5% merchant rewards
Shopify Integration: Bridging Crypto and E-Commerce
Coinbase Payments is now live on Shopify. The workflow:
- Customers select USDC at checkout.
- Funds are locked via Stablecoin Checkout.
- Merchants authorize/capture payments through the E-Commerce Engine.
- Settlements occur via Coinbase Wallet API.
👉 Explore how USDC transforms e-commerce payments
Merchants face no operational changes, and developers benefit from an open-source payment protocol compatible with traditional systems. For direct USDC收款, Coinbase Commerce offers fee-free deposits to enterprise wallets.
Industry Impact
This launch follows growing adoption of stablecoins in mainstream finance, exemplified by:
- JD.com’s pursuit of a global stablecoin license (targeting 90% lower cross-border fees).
- DoorDash’s potential USDC integration after CTO’s engagement with Base founders.
FAQ
Q: How does Coinbase Payments reduce fees for merchants?
A: By leveraging USDC on-chain settlements, it bypasses intermediaries, lowering fees to 0.5% versus traditional payment processors.
Q: Can Shopify merchants convert USDC to fiat automatically?
A: Yes—Coinbase supports instant conversion to local currency at checkout.
Q: Is this service available outside the US?
A: Initially targeting global Shopify merchants, with plans to expand.
Q: What blockchain powers Coinbase Payments?
A: Transactions are secured on Base, Coinbase’s Ethereum L2 network.
👉 Learn more about USDC’s role in decentralized finance