Cryptocurrency Expansion by Stripe and Shopify: The Shopping Era Begins with This Coin!
Stripe has launched its new service that will allow Shopify stores to accept payments in USDC over the Base network.
As one of the world's leading payment platforms, Stripe is paving the way for payments in USDC in 34 countries through its partnership with the popular e-commerce platform Shopify. In a statement by Stripe, it was noted that customers can shop over the Base network using their preferred crypto wallets. Sellers can convert the payments received in USDC into their preferred local currency via Stripe and deposit them directly into their bank accounts.
Stripe's USDC integration provides significant convenience for Shopify sellers. Shopify COO and Vice President of Product Kaz Nejatian stated the following regarding the matter:
"Stripe has long been simplifying the complex aspects of payment processes for our sellers. Now, it provides the same ease with stablecoins, making it simple to meet global demands."
The collaboration between Stripe and Shopify is not the only development expanding the use of USDC. The world's second-largest stablecoin provider, Circle, recently successfully completed its initial public offering on the New York Stock Exchange (NYSE), while Stripe also recently acquired the crypto wallet provider Privy. Additionally, the Layer 1 blockchain network XRP Ledger announced USDC support on its mainnet.
Previously, in 2023, Shopify had also tested blockchain-based payment initiatives with Solana Pay. With these new moves, the potential for USDC to close the gap with the market leader Tether (USDT) is increasing.
