Crypto as a method of payment has just gotten easier. Coinbase Commerce has expanded to include USD Coin as a settlement option, allowing merchants to accept crypto without transaction fees, chargebacks, or price volatility.
Coinbase Commerce, an app launched last year to facilitate merchant payments, now accepts Coinbase’s native USD Coin (USDC). The stablecoin was the result of a partnership between Circle and Coinbase in October 2018.
The update represents a stride for crypto as a medium-of-exchange. Bitcoin, as the pioneer cryptocurrency, has relatively high fees and long transaction confirmation times. Meanwhile, the fiat-backed USD Coin allows merchants to get the benefits of crypto without the drawbacks.