Coinbase allows businesses to accept USD Coin for payments

The platform announced on Tweeter that businesses which use Coinbase Commerce can accept payments in USD Coin (USDC), a US dollar-backed stablecoin. Moreover, the company stated that acceptance of the stablecoin would be as seamless as acceptance of cash for businesses. This payment mode would not encounter the problems faced by credit card payments, as it enables merchants to accept payments from customers anywhere in the world within minutes.

The reason behind this decision, the company affirms, is the fact that accepting the stablecoin, their merchants are offered many benefits of accepting cryptocurrency, but at a stable price. Also, there are no transaction fees, no chargebacks, but complete control of funds.