Merchants who use leading cryptocurrency company Coinbase for their commerce solutions can now accept payments in more digital currencies, including meme-inspired tokens Shiba Inu ($SHIB) and Dogecoin ($DOGE) .
in a new announcement Coinbase Commerce, a division of the Nasdaq-listed exchange Coinbase Global, has revealed that as part of its goal to bring consumers and businesses together in the crypto-economy, it makes crypto transactions “easier and more accessible” while adding new cryptocurrencies as payment options.
As part of its goal, Coinbase Commerce now allows “instant and free” payments from Coinbase users to Coinbase-managed merchants, as the new feature “leverages Coinbase’s unique access to Coinbase customers as payers and merchants as payees to enable instant and free payments using off-chain transactions.
According to Coinbase, an off-chain transaction “involves an account-to-account transfer processed off-blockchain through a separate channel, which means we can offer this benefit to payers with Coinbase accounts.”
Additionally, the company noted that traders concerned about price volatility will now benefit from instant transactions and automatic fiat currency conversions to ensure they receive the correct amount from payers.
The company added that seven new cryptocurrencies have been added as a payment method. The announcement reads as follows:
We now support BTC, ETH, USDC, BCH, LTC, DOGE, DAI, USDT, APE and SHIB. Merchants can easily manage which cryptocurrencies they wish to accept, deactivate those they do not accept, and choose to hold or automatically convert any cryptocurrency balance to USD.
Coinbase noted that by removing “friction and increasing flexibility in the crypto payment process on both sides of the ecosystem,” it is taking “another step toward mainstream adoption and leveraging the network effect.” of our brand”.
Coinbase Commerce’s decision notably comes shortly after SHIB and DOGE were removed from popular cryptocurrency exchange Crypto.com’s Crypto Earn rewards program, along with various other cryptoassets.
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