SAN FRANCISCO—Coinbase, one of the largest cryptocurrency exchanges in the world, has launched Coinbase Commerce, a payments platform that allows merchants to accept digital currency anywhere, anytime.
As CUToday.info reported, recently payments processor Stripe announced it would stop accepting Bitcoin.
Coinbase’s service can be directly integrated into a merchant’s checkout flow or added as a payment option on an e-commerce platform. With an email address and a phone, merchants can sign up and begin accepting payments in Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Coinbase Commerce has already been integrated with e-commerce platform Shopify. Coinbase says they are actively adding more integrations to make accepting cryptocurrency as easy as possible, CrowdFund Insider reported.
“There has been increasing demand to accept crypto as payments yet few traditional payments providers facilitate these types of transactions. PayPal, perhaps the best-known payments provider, has been slow to facilitate transactions in Bitcoin and other virtual currencies representing a growing gap in their product line. By Coinbase providing a payments platform they simultaneously increase the utilization of their tech stack while broadening the acceptance of cryptocurrencies in general. Coinbase said they are constantly evaluating and adding integrations with new blockchains, tipping their hat that more digital currencies should follow,” CrowdFund Insider stated.