Shopify (SHOP) is taking a big step forward in the world of crypto payments by integrating stablecoin support over its blockchain network, Base, built on Coinbase’s Ethereum layer-2 platform. Announced Thursday, this new feature promises to simplify international transactions for merchants and customers alike.
Starting June 12, a select group of early access merchants will begin testing the ability to accept Circle’s USDC stablecoin payments directly on-chain. Later this year, Shopify plans to expand this capability to all merchants using Shopify Payments, making crypto payments more mainstream in retail.
What’s exciting is that merchants will be able to accept on-chain USDC payments while receiving settlements in local currencies—without the usual foreign transaction fees. Shopify also announced a 1% cashback reward for customers paying with USDC, a feature set to launch later this year.
Stablecoins like USDC, whose value is pegged to real-world assets, are rapidly evolving beyond simple fund transfers. Their usage surged by 54% year-over-year, with major companies such as PayPal and Grab leveraging stablecoins for seamless payments and international remittances.
This initiative aims to revolutionize global commerce by building crypto-native infrastructure that reduces costs and increases efficiency. It’s powered by a new open-source payments protocol developed jointly by Coinbase and Shopify. This smart contract-based protocol supports features like delayed capture, tax calculation, and refunds—integrated directly into merchants’ existing order systems.
Shopify chose Base for its low transaction costs, speed, and security, all crucial for bringing crypto payments into everyday retail experiences. By adopting this innovative tech, Shopify is paving the way for crypto to become a standard payment option worldwide, making shopping more flexible and borderless.
