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3mo ago

Shopify Integrates USDC Stablecoin Payments With Cash-Back Incentives

A unified Coinbase-Stripe protocol on Shopify Payments enables USDC acceptance with local currency settlements free of foreign fees.

Tobias Lutke, founder and chief executive officer of Shopify Inc., at the Hope Global Forums annual meeting in Atlanta, Georgia, US, on Tuesday, Dec. 12, 2023. The meeting includes over 5,200 delegates representing 40 countries aiming to reimagine the global economy so the benefits and opportunities of free enterprise are extended to everyone. Photographer: Dustin Chambers/Bloomberg
Layer 2 Ethereum shopify coinbase USDC stablecoins Stripe Base

Overview

  • Shopify will roll out the new stablecoin checkout starting June 12 for a limited group of early access merchants, with broader availability later in 2025.
  • Merchants accepting USDC will receive settlements in their local currencies without foreign transaction fees.
  • Shopify is offering up to 0.5% cash back to merchants for USDC payments and plans a 1% customer cash-back incentive later this year.
  • The feature is powered by a payments protocol co-developed with Coinbase on the Base blockchain and integrated via Stripe.
  • The launch comes as the US Senate moves closer to stablecoin regulation and Shopify’s CEO doubles down on crypto’s readiness for mainstream commerce.