Shopify collaborates with Coinbase and Stripe to support USDC stablecoin payments
Shopify is rolling out support for the USDC stablecoin, a cryptocurrency backed by the United States (US) dollar, within Shopify Payments and Shop Pay.
The payments update, which is currently in early access but set to roll out to Shopify merchants throughout the year, allows stores to accept USDC through Coinbase’s Base network as payment and convert to their local currency, if they desire, with no extra setup.
Shopify is incentivizing the payment method with merchants in select countries receiving an up to half-percent rebate on USDC orders, and customers in the United States (US) using USDC are set to receive a rebate of their own later this year. In a blog post, Shopify said that, by embracing stablecoins, merchants are “tapping into global markets” and “opening the door to global customers.”