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06/15 04:29

Shopify begins testing USDC payments on Coinbase's

Shopify begins testing USDC payments on Coinbase's Base network

Shopify is taking a bigger step into the digital payments space by testing stablecoin transactions using USDC on Coinbase Base, a fast and cheap second-layer Ethereum network.

A small group of merchants were granted early access starting June 13, with a wider rollout expected later in the year via Shop Pay and Shopify Payments.

The move is part of a deeper partnership with Coinbase aimed at building a modern blockchain-based payment system. Shopify CEO Toby Luetke described stablecoins as a natural complement to online commerce, highlighting the project’s potential to streamline global transactions.

Incentives like 1% cashback in local currency are also in the works, signaling Shopify’s intention to make stablecoin payments more attractive to users. Shoppers will need a compatible crypto wallet to complete their USDC purchases.

Base, the network supporting this initiative, already hosts around 6% of all USDC, making it a significant player in the stablecoin ecosystem. While Shopify has not confirmed plans to support other blockchains, some online users have called on the company to expand compatibility.

Shopify is no stranger to the cryptocurrency world. It has supported Bitcoin payments through external gateways since 2013, and now offers several crypto payment integrations, including BitPay and Solana Pay. However, the platform still recommends its own payment system for fast sales, citing slower settlement times for cryptocurrencies.

This isn't the first time Shopify and Coinbase have collaborated. Both companies were part of Meta's now-defunct stablecoin project Diem, a sign that while past experiments have failed, the vision of cryptocurrency-powered commerce is still alive and well.

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