Coinbase Launches Stablecoin Payments Platform on Base Network

Coinbase (COIN) has officially entered the global payments space with the launch of Coinbase Payments, a stablecoin-based service powered by its Ethereum layer-2 network, Base. According to a Wednesday blog post, the platform is already live with e-commerce giant Shopify, enabling seamless 24/7 USDC transactions for merchants without requiring blockchain expertise.

The initiative underscores the rising influence of stablecoins in global finance. In 2023 alone, stablecoins facilitated over $30 trillion in transactions—tripling the previous year's volume. Coinbase aims to capitalize on this growth by offering a user-friendly, blockchain-powered alternative to traditional payment methods.

Coinbase Payments features a modular system with three core tools: Stablecoin Checkout allows customers to pay using wallets like MetaMask, Phantom, and Coinbase Wallet in a gas-free, browser-native interface. The Ecommerce Engine offers an API for platforms to manage functions such as refunds and transaction ledgering. Meanwhile, the Commerce Payments Protocol uses smart contracts to automate tasks like onchain escrow and delayed capture.

This integration allows merchants worldwide to accept USDC at any time with minimal setup and lower fees, while preserving traditional payment features like settlement, recurring billing, and dispute resolution—executed with blockchain speed and transparency.

The announcement drove Coinbase shares up 16% and pushed Circle (CRCL)—USDC’s issuer—up 25% to an all-time high. As competitors like Stripe and PayPal also roll out blockchain-powered products, Coinbase is positioning itself as a key player in the evolving digital payments landscape.

With the rise of crypto-native solutions and increased merchant demand for low-cost, real-time payments, Coinbase Payments could mark a pivotal shift in how global e-commerce is transacted.