Coinbase Unveils New Protocol for On-Chain Payments


17 Nov 2023 11:34 PM

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.

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You May Ask

What is Coinbase's new protocol for on-chain payments called?Which currencies are supported by the Onchain Payment Protocol?What benefits does Coinbase Commerce provide for crypto merchants?What is Base, and how has it performed since its launch?How can other payment processors and businesses utilize Coinbase's open-source protocol?

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