Retail Payment Platform Coinbase Commerce Finalized $200 Million Worth of Transactions

By Daniel T. | March 31, 2020

Coinbase Commerce – a platform offering facilitating features for crypto payments for online retailers – has reportedly crossed the $200 million benchmark, for finalized transactions, since its release 2 years ago.

Specifically, the subsidiary arm of US-based crypto exchange heavyweight Coinbase reportedly claimed on March 26th, that the payment services it provided to the 8000 clients in the retailing sector has contributed a significant part to the success. 

Despite the traditional market is suffering from the ongoing situation across the world, the data issued by Coinbase Commerce suggested that Bitcoin (BTC) is still widely considered a comfortable means of payment for products. 

John Zettler – head of product at Coinbase Commerce – also disclosed that up to now, BTC has remained the go-to means of payment, in the pool of supported crypto coins currently available on the firm’s platform. 

“Merchant customers often tell us it’s the crypto they’re most familiar with and the one they trust the most.”

Volatility in terms of price value is one of the major setback slowing down acceptance rate from retailers towards Bitcoin, but should the figures released by Coinbase Commerce is used as reference, it is noticeable that BTC is gradually building up its place in the retailers’ eyes. 

Coinbase Commerce has reportedly rolled out facilitating feature for MakerDAO’s DAI stablecoin, along with its self-developed USD Coin (USDC).

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