$USDC Shopify launches USDC stablecoin payment interface
Global e-commerce giant Shopify partners with major U.S. exchange Coinbase to launch early access to Circle's USDC stablecoin payments.
Shopify plans to fully launch USDC payments on Coinbase's Ethereum Layer-2 network Base through Shopify Payments and Shop Pay throughout the year, with this plan announced on Thursday.
Shopify CEO Tobi Lutke stated on the X platform that he believes stablecoins are a natural medium for internet transactions and has collaborated with Coinbase to develop a smart contract for commercial payment agreements.
Shopify's new feature will also allow for future incentives for buyers similar to 1% cash back.
Shopify selects Base as its payment platform
According to data from USDC Transparency and CoinGecko, Coinbase's Base blockchain is the fourth largest network for USDC, accounting for 6% of its total supply.
Base, built by Coinbase, is described as a 'super fast and affordable network' that enables global payments 24/7, with quick and secure transactions.
It is unclear whether Shopify plans to support more USDC chains or other crypto assets, raising curiosity among some users.
