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Coinbase’s Retail Payments Wing Crosses $200M in Transactions

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@sydesjokes
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Virus or not, people are still paying for goods in bitcoin.

That comes from a massive network: 8,000 integrated retailers now accept cryptocurrencies alongside their other payment streams. It’s a bright spot for adoption in an otherwise topsy-turvy time for bitcoin and cryptocurrency at large, which, like so much of the world, has been struggling to price in COVID-19.

Not so for merchant crypto payments, though. Commerce product lead John Zettler told Coindesk that the team hasn’t seen any change in activity over March.

Money comes more often than not in bitcoin, Zettler said. He did not provide an exact crypto-by-crypto usage breakdown, but noted that bitcoin is far and away customers’ method of choice.

"Merchant customers often tell us it's the crypto they're most familiar with and the one they trust the most," he said.

Even so, Coinbase is seeing a surge in the use of stablecoins for payment, particularly its own dollar-pegged USD Coin (USDC). USDC leads the growth pack, Zettler said. He expected to see “material growth” in stablecoin use across Q2 and Q3.

Full article on Coindesk

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