Coinbase Now Lets Merchants Accept Payments in the USDC Stablecoin
Coinbase Commerce, the cryptocurrency exchange’s merchants payments offering, has added support for the dollar-pegged stablecoin USD Coin (USDC).
The development means businesses can now receive payments in USDC from customers “in minutes with zero transaction fees” and no chargebacks, Coinbase in a blog post on Monday.
“Unlike accepting credit card payments, merchants can accept USD Coin without geographical limitations or the need for a traditional bank account,” the firm said.
Coinbase Commerce was in February 2018 and offers support for bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC) payments alongside the new USDC.
Initially integrated with e-commerce platform Shopify, Coinbase Commerce later a plugin for WooCommerce too. At the time, Coinbase said that WooCommerce provides the payments infrastructure for more than 28 percent of all web stores.
USDC was late last year by crypto finance startup Circle and Coinbase. Earlier this month, Coinbase crypto-to-crypto trading in the stablecoin to 85 countries.
“For new customers in countries like Argentina and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020, stablecoins like USDC could provide an opportunity to protect against inflation,” it said at the time.
Estonian cryptocurrency-backed financial services platform recently published a featuring its top managers Alex Sitnikov (CTO), Julian Kossinov (CFO), and Andrew Zimine (CEO).
[Note: This is a press release]
The video highlights the platform’s unique services, products and how they can benefit the cryptocurrency community. Exscudo offers a range of cryptocurrency based IT solutions that functions in the new age financial and legal domains.
The new financial ecosystem is quickly being realized by the efforts of specialists from various fields. In the interview, veteran IT-developer Alex Sitnikov who is well-experienced in working with traditional stock exchanges has offered some invaluable information on how the system operates.
Unlike many other exchanges that trade in fiat and multiple cryptocurrencies, Exscudo trades in EON color coins. This system ensures that the exchange does not hold any of the user’s funds, thus negating any attempts by hackers to steal users’ funds. All funds remain in the users’ personal bank accounts or wallets until the time orders are finalized.
Exscudo aims to apply some of the more beneficial regulatory practices of mainstream stock exchanges into its platform to facilitate fruitful cooperation between them. The adoption of relevant regulatory requirements and compliances by Exscudo also helps the platform avoid issues related to money laundering etc.
In the , Kossinov states that Exscudo has developed a number of products to solve the problems of accessibility, transparency, and sustainability of the financial market. The platform’s products and services are designed to facilitate an honest exchange procedure between cryptocurrencies and fiat.
Exscudo’s uniquely designed distributed network (EON) serves to power the entire ecosystem. The EON coins act as fuel for the blockchain and ICO assets. Exscudo will release a total of 240 million EON coins, of which 150.72 million will be available for sale during the ICO, scheduled to start on April 25, 2017. The price for 1 EON will be set at 0.0002 BTC.
Exscudo’s compliance with legal and regulatory requirements makes it attractive for traditional investors as it provides them with an opportunity to invest legally in a cryptocurrency-powered project. The platform believes to have something to offer to almost everyone. For businesses, Exscudo’s merchant platform provides the capability of receiving a wide range of cryptocurrencies as payment from customers.
Other features offered by Exscudo to its users includes its own channels for miners and traders, wallet application, secure messenger and more. The Exscudo app also provides a broad range of functions for storage and exchange of currencies, payments, secure communications and even monetization of public channels.
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