Coinbase has launched Coinbase Payments to expand into the global payments market using its Ethereum layer-2 network Base.

Key Points:

• The service allows merchants to accept stablecoin USDC payments 24/7 without blockchain expertise, integrating with platforms like Shopify.
• Stablecoins are reshaping the cross-border payments market, with firms like Stripe and PayPal introducing blockchain-based solutions.

The company aims to facilitate quick and seamless USDC transactions for merchants worldwide without requiring them to have blockchain knowledge. The system is already operational with Shopify.

Coinbase noted that transactions utilizing stablecoins reached $30 trillion last year, reflecting a tripling of volume compared to the previous year.

The new platform offers functionalities such as Stablecoin Checkout, which enables users to pay using wallets like MetaMask, Phantom, and Coinbase Wallet. Merchants can operate 24/7, ensuring lower transaction fees and mimicking conventional payment systems.