Coinbase Commerce helps merchants set up their business with hosted checkout pages, payment buttons, and multiple integrations
Coinbase Commerce, the merchant arm of the San Francisco-based cryptocurrency exchange, has added the invoicing feature that allows users to create and send crypto invoices for customers to view and pay online.
Coinbase Commerce helps merchants set up their business in minutes, equipped with hosted checkout pages, payment buttons, invoicing, and multiple ecommerce integrations.
Crypto invoicing makes it easy to invoice and pay in multiple cryptocurrencies and also auto-generates a wallet address for them in order to track the payment transaction.
Coinbase Commerce revealed earlier this year that it has achieved the double milestone of $200 million in transactions as well as has crossed 8,000 integrated retailers.
Commerce product lead John Zettler said that activity in its retailers’ network wasn’t impacted by the chaos triggered by the novel coronavirus. He also confirmed that Bitcoin remains the most preferred coin within the service that allows merchants to accept multiple cryptocurrencies directly into a user-controlled wallet.
Usdc Strengthens Its Dominance
A few years after it arrived on the scene amidst claims it would take on fiat currencies and revolutionize payments, Zettler said stablecoins are also taking a bigger market share. He added that stablecoins, particularly its own dollar-pegged USDC, offer regular sellers a low-friction avenue to add cryptocurrency payments to their checkout and e-commerce business. So the metrics and growth prospects stand to further its position in both crypto and traditional markets by bridging the worlds.
Coinbase has been trying to increase the adoption of the US dollar-pegged stablecoin that popped up somewhere in the middle of 2018. The US fintech unicorn has also boosted USDC dominance by making it the only way to convert fiat to crypto without fees on its institutional platform, Coinbase Pro.
Coinbase’s own USDC coin in circulation hit more $3 billion and is currently the world’s second-largest stablecoin and ranks 13rd among all cryptocurrencies. The dollar-backed token was created by both Coinbase and Goldman-funded startup Circle.
By Aziz Abdel-Qader, December 18, 2020, published on Finance Magnates