Shopify and Coinbase’s stablecoin payment protocol tops $42M in volume on Base

The Commerce Payments Protocol has processed more than 448,000 payments, allowing eligible Shopify merchants to accept stablecoins without managing crypto balances. The Commerce Payments Protocol developed by Shopify and Coinbase has surpassed $42 million in net settled payment volume on Base, highlighting growing use of stablecoin infrastructure designed for everyday online purchases. The protocol recorded more than 448,000 payments and approximately $42.1 million in net settled volume as of October 2, according to data from the SeaLaunch dashboard on Dune Analytics cited in a Base case study. The figures represent activity across the Commerce Payments Protocol rather than transactions originating exclusively from Shopify stores. Developed by Shopify and Coinbase, the protocol enables eligible merchants to accept USDC through Shopify Payments while receiving local currency through their existing payout arrangements. Customers can pay using supported crypto wallets without holding ETH for network fees, as Coinbase Payments sponsors the gas costs. The integration is designed to bring stablecoin transactions into familiar ecommerce workflows, addressing challenges such as delayed ord...