Programmable financial services company Stripe announced a deeper partnership with Shopify, in which Stripe will help millions of Shopify merchants accept stablecoin payments. „In a few weeks, Shopify merchants across 34 countries will be able to accept payments in USDC” – according to the press release.
„Shoppers will be able to pay with USDC on Base using their preferred crypto wallet. By default, Stripe will allow merchants to receive stablecoin payments in their preferred local currency, to be deposited in their bank account just like any other payment they receive. Alternatively, merchants will have the option to transfer funds as USDC directly to an external wallet.” – the company explained.
“Stripe has long handled the hard parts of payments so our merchants don’t have to,” said Kaz Nejatian, COO & VP of Product at Shopify. “Now they’re doing the same for stablecoins—making it simple for our merchants to meet booming global demand without wrestling with crypto infrastructure.”
In the last two years, more than $94 billion in stablecoin payments were settled globally. During that time, monthly payment volume grew from less than $2 billion to over $6.3 billion.
“We’re excited to work with Shopify to bring the benefits of stablecoins to a massive number of businesses at once,” said Neetika Bansal, head of Money Movement and Crypto at Stripe. “Now those businesses can reach more markets at lower costs—all without having to change how they already run their business.”
Stripe Connect is the product suite trusted by platforms like DoorDash, Instacart, and Salesforce, as well as Shopify, to manage multi-party payments. Now Connect platforms based in the U.S. will be able to turn on stablecoin payments for their users as well.
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