Major United States-based cryptocurrency exchange Coinbase announced that its cryptocurrency payment processor Coinbase Commerce now supports Circle's stablecoin USD Coin in a blog post on May 20.
Per the announcement, Coinbase Commerce users can now accept USDC payments with no transaction fees.
The announcement specifies that "Unlike accepting credit card payments, merchants can accept USD Coin without geographical limitations or the need for a traditional bank account."
Coinbase states that accepting stablecoins allows merchants to benefit from cryptocurrency transactions while avoiding the volatility characteristic of un-pegged digital assets.
A recent report by the European Central Bank found that cryptocurrencies do not have significant implications on monetary policy or the broader economy, in part because only a small percentage of merchants accept crypto payments for goods and services.
The service allows merchants to accept multiple cryptocurrencies and can be integrated into the checkout flow and be added as a payment option on major e-commerce platforms.
USD Coin is an Ethereum-based token compliant with the ERC20 standard that was first announced in May last year and released in September.
As Cointelegraph reported earlier today, cryptocurrency research firm Diar indicates that the market capitalization for USD stablecoins has hit an all-time high and exceeds $4 billion.
Coinbase Payment Processing Service Now Supports Circle's USDC Stablecoin
gepubliceerd op May 22, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.