Many of you know that my wife Dawn and I operate three different ecommerce businesses using the Shopify platform. We love Shopify, but as of today, it just got better.
In breaking huge news Coinbase has announced they will partner with ecommerce giant Shopify to
accept crypto on all Shopify e-commerce platforms. When you take a look at Shopify’s numbers you understand how significant this can be. In 2023 675 million people made purchases from Shopify stores. Shopify Stores are in 175 countries. Shopify has over 2.1 million daily active users, two million merchants are using the platform & 5.5 million active e-commerce stores are built on Shopify.
Not only is this fundamentally bullish news for all of crypto this is big news for Ethereum and big news for the Coinbase level two platform BASE.
CEO of Shopify was on stage with Coinbase CEO Brian Armstrong today making this announcement. This is what he had to say about it, “ Shopify will enable USDC stable coins on base when customers checkout through Shopify payments. Early access starts today and will roll out through the year. We think that stable coins are a natural way to transact on the internet and worked with Coinbase to develop the commerce payments protocol smart contract that powers this work. This work also allows us to offer buyer incentives like 1% cash back in the future. Everything is transparent to merchants, they will simply get normal local currency payouts the same as usual unless they choose to keep some as USDC. Stripe will help make sure this is totally seamless just as in the US Senate votes to move forward with the stable coin bill & the Genius Act.
I believe this move will benefit us and provide more sales for our three ecommerce stores, and help all Shopify store owners. Not to mention this is another bullish move for the entire crypto market.