The US-listed cryptocurrency exchange Coinbase announced last night (18th) the official launch of Coinbase Payments, with USDC as the core settlement asset, allowing cross-border transactions to be completed almost instantly with fees below $0.01. Through deep integration with Shopify, it brings stablecoin payments into the global e-commerce ecosystem. (Background: Coinbase launched a credit card with up to 4% Bitcoin cashback + perpetual contracts available for US retail investors) (Background supplement: just bought Deribit yesterday) Coinbase has launched 24/7 Bitcoin + Ethereum futures trading in the US, with perpetual contracts on the way. Stablecoins are gradually moving out of the crypto circle and entering mainstream business cases, adding another example. The largest cryptocurrency exchange in the US, Coinbase, announced last night (18th) the official launch of Coinbase Payments, with USDC as the core settlement asset, stating that it can enable cross-border transactions to be completed almost instantly with fees below $0.01, and through deep integration with Shopify, it brings decentralized payments into the global e-commerce ecosystem. What is Coinbase Payments? The announcement indicated that Coinbase Payments is positioned as the first stablecoin payment solution designed for large e-commerce, aiming to reduce the technical barriers of on-chain payments and lower costs. The overall architecture is divided into three layers: The first layer, Stablecoin Checkout, connects to hundreds of wallets like Coinbase Wallet, MetaMask, and Phantom, providing a gasless experience; the second layer, Ecommerce Engine, handles authorization, capture, refunds, ledger, and subscription management through APIs; the third layer, Commerce Payments Protocol, executes payment logic such as Escrow, Delayed Capture, and Refunds on the Base blockchain. Coinbase pointed out: Coinbase Payments is specifically designed for payment service providers, platform marketplaces, and e-commerce infrastructure, offering APIs and open-source smart contracts to help merchants support USDC without needing to build on-chain functionality themselves. Merchants can choose to receive USDC directly or convert it back to local fiat currency at checkout, with no additional foreign currency conversion fees incurred. Partnering with Shopify, opening the global merchant gateway. Currently, Coinbase Payments has already gone live on Shopify. It is reported that in the Shopify checkout process, after consumers select USDC for payment, Stablecoin Checkout will first lock the funds, and merchants will complete Auth/Capture through Ecommerce Engine, finally settling through Coinbase Wallet API based on the underlying contract. Merchants do not need to change their existing payment processes to accept USDC, with fees reduced to 0.5%, while consumers and merchants enjoy 1% and 0.5% cashback, respectively. The technical foundation behind this mechanism is a jointly open-sourced commercial payment protocol, including delayed clearing, reconciliation, and return logistics, which is also easy for developers familiar with traditional cash flow to grasp. If companies want to collect payments themselves, Coinbase Commerce can directly deposit USDC into the corporate wallet, with no fees, and is compatible with mainstream e-commerce systems on the market. Related Reports JD.com aims to obtain a global stablecoin license, Liu Qiangdong: The goal is to reduce cross-border payment fees by 90% and remittance time to within 10 seconds. The largest delivery platform in the US, DoorDash, is expected to accept stablecoin payments? CTO responds positively to Base founder's invitation. Why do stablecoins need privacy? "The larger the market value, the more nightmares there are". "Coinbase launches e-commerce stablecoin payment service Coinbase Payments: already partnered with Shopify for direct USDC transactions" This article was first published on BlockTempo (the most influential blockchain news media).

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