Shopify (SHOP) is preparing to implement stablecoin payments for its merchants using Base, an Ethereum layer-2 network developed by crypto exchange Coinbase (COIN). The company announced the integration will commence on June 12 for a select group of early access merchants, with a broader rollout anticipated later this year for all users of Shopify Payments.

Once fully launched, merchants will be able to accept payments through Circle’s (CRCL) USDC token on-chain, allowing optional settlement in local currencies without incurring foreign transaction fees. Shopify also mentioned plans to offer a 1% cash back incentive for customers using USDC, expected to be available later in the year.

Key Details:

• USDC stablecoin payments will reach millions of Shopify merchants globally.
• This move aims to enhance international trade through crypto-native structures.

Notably, the adoption of stablecoins is surging, evidenced by a 54% increase in supply year-on-year. Companies like PayPal and Grab are increasingly utilizing stablecoins for payments and cross-border remittances.

Shopify has chosen Base for its efficient transaction structure, combining low costs with speed and security, ultimately aiming to introduce crypto payments into everyday retail.