Coinbase has announced a stablecoin payment option on Shopify and an American Express credit card during the State of Crypto Summit. Shopify users may soon be able to use stablecoin for purchases from approximately two million stores on the platform, requiring approval through a third-party crypto wallet. Shopify CEO Tobi Lutke emphasized the importance of stablecoins to manage price volatility in cryptocurrency transactions. The USDC on Base payment option is starting with early access and is planned to expand this year, potentially with 1% cashback for users. Coinbase also revealed its American Express card, which will only be available in the US and requires a subscription to Coinbase One. The card promises 2-4% bitcoin back on purchases, appealing primarily to a younger demographic interested in crypto. The launch of the Coinbase One card is expected this fall, joining other recent crypto payment card announcements. This raises questions about whether the crypto industry aims to compete with traditional financial systems or integrate with them.

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