Shopify has announced a collaboration with Coinbase to enable USDC stablecoin payments for Shopify merchants on Coinbase's Layer-2 network, Base. The early access for this feature is now live for select merchants and will roll out more broadly throughout the year, according to CEO Tobi Lutke. The initiative aims to facilitate the use of stablecoins in eCommerce, with customers being able to make purchases in USDC just like other payment methods. This effort also includes cooperation with Stripe to build an open-source payment protocol designed to handle complex transactions more efficiently. The new Commerce Payments Protocol allows buyers to have cash back incentives, and it maintains a seamless experience for merchants, who will receive payments in their local currency unless they opt to keep it as USDC. The expansion into crypto payments marks a significant step for Shopify following its integration of Solana Pay in 2023. Both Shopify and Coinbase saw a drop in stock price amidst the announcement, even as the headline reflects a progressive move in global eCommerce finance.

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