Shopify is expanding its payment offerings by introducing early access to USDC stablecoin transactions through Coinbase’s Ethereum layer-2 network, Base.
The e-commerce platform revealed on Thursday that full integration of USDC payments via Shopify Payments and Shop Pay is expected later this year. This move is made possible through a collaboration with Coinbase, one of the largest crypto exchanges in the U.S.
“Stablecoins like USDC are a natural fit for online commerce,” said Shopify CEO Tobi Lütke in a post on X, adding that Shopify and Coinbase co-developed a commerce-focused smart contract to support this initiative.
The new feature could eventually allow buyers to earn rewards, such as 1% cashback in their local currency, Lütke added.
Why Shopify Chose Base
Base, developed by Coinbase, ranks as the fourth-largest blockchain network for USDC, currently holding about 6% of the stablecoin’s $61 billion total supply. Shopify cited Base’s speed, affordability, and global accessibility as key reasons for selecting the network, calling it a reliable and secure way to handle 24/7 transactions.
While Shopify hasn’t clarified whether it will support USDC on other networks or add more cryptocurrencies in the future, some users online expressed surprise at the narrow focus. One commenter questioned, “Why limit access? Supporting all USDC-compatible chains would be more inclusive.”
Crypto Integration Isn’t New for Shopify
This isn’t Shopify’s first step into digital currencies. Back in 2013, the company began supporting Bitcoin payments through third-party gateways, enabling its then-75,000 merchants to accept BTC.
Today, Shopify merchants can integrate with various crypto payment providers, including BitPay and Solana Pay, to support a wide range of digital assets. However, Shopify’s Help Center advises that direct payment methods like Shopify Payments are more reliable for high-speed events like flash sales, due to the slower confirmation times of blockchain transactions.
This latest USDC initiative builds on previous collaborations between Shopify and Coinbase. Both companies were part of Meta’s former stablecoin project, Diem (originally Libra), which was eventually discontinued in early 2022 after facing significant regulatory resistance.
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