Shopify Merchants Can Now Receive USDC or Local Currency
Jamie Redman
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Crypto News
Shopify Merchants Can Now Receive USDC or Local Currency
Shopify has integrated the stablecoin USDC into its Shopify Payments system through partnerships with Coinbase and Stripe.
USDC Stablecoin Live on Shopify Payments for Global Sales
The integration, now in early access, allows merchants globally to accept USDC payments from customers using the Base blockchain network. Customers can pay with USDC supported wallets during checkout, including guest checkout and Shop Pay. Shopify’s blog post notes that no new integrations or gateways are required for merchants using Shopify Payments.
Shopify merchants will automatically receive settlement in their local currency without foreign transaction or exchange fees. Alternatively, they can opt to receive USDC directly into their own crypto wallet. This functionality is facilitated by Stripe‘s involvement.
USDC is a stablecoin issued by the publicly-listed firm Circle and it is pegged 1:1 to the U.S. dollar, aiming to avoid the volatility of cryptocurrencies like bitcoin (BTC). The Base network, an Ethereum layer two (L2) developed by Coinbase, processes the transactions.
Shopify and Coinbase jointly created a new smart contract and open-source payment protocol to handle commerce-specific needs like tax calculation, delayed capture, and refunds within the existing order flow.
Consumers paying with USDC select the option at checkout, connect a compatible crypto wallet holding USDC on Base via a secure pop-up window, and confirm the transaction. In the U.S., Shopify plans to offer customers 1% cash back on USDC payments later this year at no cost to merchants.
The feature is initially available to early access merchants and will expand to all stores using Shopify Payments globally later in 2025. The firms explain that no additional setup is required for eligible merchants.
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