Following this announcement, merchants will have the possibility to accept USDC from customers across the world on the Base network, leveraging their existing payment and order fulfillment flows. This process will take place with no integrations or new gateways being required.
In addition, businesses and merchants will be enabled to receive their local currency by default, with no foreign transaction or exchange fees, or they will be allowed to choose to claim USDC directly into their own wallet. Through the partnership with Stripe, this process will make accepting crypto payments easier and more secure for firms, who will also have more flexibility in managing their funds.
According to the official press release, the new launch will provide merchants with stability, as USDC is backed 1:1 by US Dollar reserves and maintains a constant value, allowing merchants to get a currency that’s safe, reliable, and easy to exchange when customers pay in USDC. At the same time, the assets will provide faster and more secure borderless transactions, as well as improved checkout experiences. Buyer wallets will allow clients to hold and spend digital currencies, while enabling buyers to pay with their wallet of choice and provide clients with an improved cross-border payment experience.
Furthermore, by incorporating stablecoins, merchants will accelerate the process of adopting a new payment method, while also tapping into global markets, offering global customers the possibility to access more services and benefits, as well as developing borderless, accessible commerce. The partnership will enable the companies to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
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