KEY TAKEAWAYS
- Coinbase Business launches new payment tools to streamline global transactions, featuring global payouts and payment links.
- The global payouts feature allows businesses to send USDC without gas fees, enhancing cross-border payment efficiency.
- Payment links enable businesses to request USDC payments seamlessly, eliminating typical credit card fees.
- Coinbase plans to integrate services with Coinbase Commerce, offering a comprehensive financial platform for businesses.
Coinbase Business has introduced a new suite of payment tools designed to streamline global transactions for businesses. Announced here, the new features include global payouts and payment links, enabling businesses to send and receive USD Coin (USDC) with low fees and instant settlement.
The global payouts feature allows businesses to send USDC to any onchain or email address, facilitating efficient cross-border payments without gas fees for recipients on networks like Base. Payments can be funded from platform balances or a connected bank account. This feature also includes seamless contact management, reducing errors and simplifying repeat payments. If recipients do not have a crypto wallet, they can receive payments via email and claim funds by creating a free Coinbase account.
The Payouts API enables businesses to automate payment workflows, allowing on-demand, batch, or scheduled payouts to vendors and contractors worldwide. This automation aims to reduce the complexity and cost associated with traditional B2B payments.
Enhancing Customer Payment Collection
Coinbase Business’s new payment links feature allows businesses to create shareable links to request specific amounts in USDC. Customers can use these links to pay in a seamless, gasless experience, accepting payments from hundreds of wallets, including Base app, MetaMask, and Phantom. Payments settle instantly on Base with no network fees or chargebacks, eliminating the typical 3% fees associated with credit card transactions.
The upcoming Payment Links API will enable dynamic creation of payment links at scale, ideal for developers collecting payments within apps or e-commerce platforms. USDC balances held in Coinbase Business accounts earn a competitive 4.1% annual percentage yield (APY) and can be cashed out to a linked business bank account via Wire or ACH. Transactions can be synced with accounting software like QuickBooks or Xero through integrations with CoinTracker, ensuring compliance while adopting crypto payments.
Future Developments and Integration
Coinbase Business plans to unify its services with Coinbase Commerce, offering integrated solutions that include full custody and cash-out capabilities. This move aims to enhance merchant tools and provide a comprehensive financial platform for modern companies. The new features are powered by Coinbase’s Crypto-as-a-Service (CaaS) infrastructure, supporting large e-commerce platforms and enterprises seeking enterprise-grade payment solutions.
Why This Matters: Impact, Industry Trends & Expert Insights
Coinbase Business has launched a new suite of payment tools that aim to streamline global transactions using USD Coin (USDC), offering features like global payouts and payment links to enhance cross-border payments for businesses.
Recent industry reports indicate significant growth in USDC adoption for global transactions, driven by institutional acceptance and regulatory clarity. This aligns with Coinbase’s new payment tools, which leverage USDC to facilitate efficient cross-border transactions.
A Fintech Wrapup report highlights that experts view Coinbase’s payment tools as a major advancement in crypto commerce infrastructure, focusing on stablecoins like USDC for fast, low-cost, and borderless payments. This supports the impact of Coinbase’s initiative in promoting widespread adoption of crypto payments.
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