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- Coinbase Payments lets Checkout.com merchants accept USDC and USDT with USD settlement.
- Checkout.com adds stablecoins without forcing merchants to build crypto systems.
- ECB officials warn stablecoin growth may affect bank deposits and funding stability.
Coinbase Payments will help Checkout.com add stablecoin acceptance for eligible merchants, allowing USDC and USDT payments while settlement remains in US dollars. The Tuesday announcement places stablecoins beside cards, bank transfers, and digital wallets on Checkout.com’s wider merchant platform globally.
As per the report, Checkout.com serves more than 1,000 enterprise clients. The company said merchants can add stablecoins without building separate crypto systems. The integration is designed to work through existing payment infrastructure.
Coinbase Payments Supports API-Based Checkout
Coinbase Payments will manage the buyer and merchant payment experience through APIs. Checkout.com will handle settlement in traditional USD. This structure keeps merchants away from direct currency conversion risk.
The company said consumers can pay with stablecoins in supported markets. That option may be relevant where local currencies are volatile or traditional payment access is limited. Merchants can still receive settlement in dollars.
Coinbase Payments gives Checkout.com merchants a route to serve customers who already hold stablecoins. The service adds another payment option rather than replacing current methods. It also keeps crypto handling outside the merchant’s direct operations.
Visa’s on-chain analytics showed adjusted stablecoin transaction volume reached $10.2 trillion over the past 12 months. The figure marked a 63% increase year over year. Much of that activity still comes from crypto exchanges and wallet transfers.
Stablecoin supporters present the assets as faster tools for digital payments. They also refer to potential cost savings for cross-border transactions. The Checkout.com acquisition is an example of that use case, with a merchant-focused payment layer.
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Coinbase Payments is one of the latest initiatives under Coinbase’s expanding payment operations. The company has been actively touting stablecoins for use in e-commerce and for international transfers. Checkout.com adds that option to a large enterprise payment network.
ECB Warns Over Rapid Stablecoin Growth
The rollout comes as European Central Bank officials continue to warn about stablecoin growth. ECB President Christine Lagarde said stablecoins grew from below $10 billion six years ago to more than $300 billion today. She added that the market is still predominantly in US dollars.
Lagarde added that Tether and Circle hold almost 90% of the market. She connected that focus with the larger discussion of dollar-backed digital assets. Her comments revealed a continued focus on the scale and structure of stablecoins.
Isabel Schnabel, member of the ECB Executive Board, also expressed worries about bank funding. Stablecoins may draw away bank deposits, she said. Such a change might be likely to increase banks’ reliance on wholesale markets.
Schnabel also spoke about potential gains of stablecoins. She placed them within a broader history of financial innovation. Her remarks referred to money market funds and privately issued money.
The Checkout.com partnership is an example of payment companies experimenting with stablecoins in the current system.
Coinbase Payments serves as a crypto payment layer, with Checkout.com keeping track of fiat settlement. The model provides stablecoin access without merchants having to spin up payment operations.
Also Read: Coinbase Expands India Operations With New INR Payment Rails Launch
