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Cryptocurrencies

Coinbase allows businesses to accept USD Coin for payments

Wednesday 22 May 2019 | 12:14 PM CET

US-based cryptocurrency exchange platform Coinbase announced that USD Coin could be used as a mode of payment by businesses using Coinbase Commerce.

The platform announced on Tweeter that businesses which use Coinbase Commerce can accept payments in USD Coin (USDC), a US dollar-backed stablecoin. Moreover, the company stated that acceptance of the stablecoin would be as seamless as acceptance of cash for businesses. This payment mode would not encounter the problems faced by credit card payments, as it enables merchants to accept payments from customers anywhere in the world within minutes.

The reason behind this decision, the company affirms, is the fact that accepting the stablecoin, their merchants are offered many benefits of accepting cryptocurrency, but at a stable price. Also, there are no transaction fees, no chargebacks, but complete control of funds.

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