Coinbase Unveils New Protocol for On-Chain Payments
Coinbase has continued to build and release new updates despite harsh market conditions....
- Coinbase has launched a new protocol for on-chain payments called the Onchain Payment Protocol.
- The protocol aims to simplify and standardize on-chain payments for currencies available on Base, Polygon, and other Ethereum Virtual Machine networks.
- It offers volatility-free payments and low transaction fees, solving common crypto transaction issues for merchants and customers.
- The protocol is open source, allowing other payment processors and businesses to build on it and create accessible gateways to on-chain payments.
- Coinbase Commerce, the updated product, provides benefits such as instant payment settlements, support for multiple networks, and out-of-the-box integrations.
- Coinbase has also recently launched Base, a scaling layer-2 network on Ethereum that has become one of the largest and fastest-growing in the industry.
The sentiment of the article is positive, highlighting Coinbase's efforts to improve on-chain payments and provide a seamless experience for merchants and customers.