Global e-commerce giant Shopify is introducing early access to stablecoin payments in Circle’s USDC through a collaboration with major US exchange Coinbase. Shopify intends to fully implement USDC payments on Coinbase’s Ethereum layer-2 network Base via Shopify Payments and Shop Pay later this year. CEO Tobi Lutke expressed that stablecoins are a natural choice for online transactions and highlighted the development of a commerce payment protocol smart contract with Coinbase. The new stablecoin payment feature will enable Shopify to provide buyer incentives such as 1% cash back in local currency payouts. Shopify's partnership with Coinbase is not their first foray into crypto, as they have been indirectly supporting Bitcoin payments since 2013. The collaboration between Shopify and Coinbase on USDC payments follows previous joint involvement in Meta's stablecoin project Diem, formerly known as Libra. Read more AI-generated news on: https://app.chaingpt.org/news

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