Coinbase Commerce, a stage that bolsters digital currency installments for web retailers, just passed $200 million in all out exchanges handled over its two-year history.
As per sources accessible to Cointelegraph, the wing of the biggest crypto trade in the U.S. provided details regarding March 26 that the stage’s prosperity was expected to some degree to the 8,000 retailers at present utilizing Coinbase for installment administrations.
Bitcoin favored for retail installments
While the coronavirus pandemic is unleashing destruction with customary markets, the report from Coinbase Commerce would infer buyers are as yet open to utilizing Bitcoin (BTC) to pay for items.
John Zettler, item lead at Coinbase Commerce, said BTC was by a wide margin the favored installment technique among the digital forms of money offered as installment strategies on the stage:
“Merchant customers often tell us it’s the crypto they’re most familiar with and the one they trust the most.”
Volatile price movements often make it difficult for retailers to accept cryptocurrencies. However, if these numbers from Coinbase Commerce are any indication, it seems that more retailers are warming up to the idea.
Coinbase’s stablecoin big winner of crypto bloodbath
While BTC was one of the hardest hit during the crypto downtown on March 12, stablecoins reaped some benefits: the transfer value hit an all-time high of $444 million the day after the crash.
Coinbase’s own stablecoin, USD Coin (USDC), was one to which crypto holders may have been turning in an attempt to preserve their capital following the bloodbath. In terms of market caps, USDC reported a 57% increase over a thirty-day period ending on March 25.
Both USDC and other stablecoins can be used for crypto purchases on Coinbase Commerce. The platform recently added MakerDAO’s DAI stablecoin as a supported payment method.