Per the statement, Coinbase Commerce users are now able to accept USDC payments with no transaction fees. The statement specifies that”unlike accepting credit card payments, retailers can accept USD Coin without geographic limitations or the need for a conventional bankaccount.”
Furthermore, Coinbase says that accepting stablecoins enables retailers to benefit from cryptocurrency trades while avoiding the volatility characteristic of un-pegged digital assets.
A recent report by the European Central Bank discovered that cryptocurrencies do not have significant implications on fiscal policy or the broader economy, in part because only a small fraction of retailers accept crypto payments for goods and services.
Coinbase Commerce premiered in early 2018. The service allows merchants to take a number of cryptocurrencies and can be incorporated into the checkout stream and be included as a payment option on major e-commerce platforms.
USD Coin is an Ethereum-based (ETH) token compliant using the ERC20standard that has been first announced in May this past year and released in September.
As Cointelegraph reported earlier now, cryptocurrency research company Diar suggests the market capitalization for USD stablecoins has struck an all-time high and exceeds $4 billion.