Coinbase has just delivered a double punch in the payment arena: an integration of USDC on Shopify, and a high-end credit card stamped with American Express. The announcement was made at the State of Crypto Summit, and beyond the technicalities, it marks a new step in the cryptocurrency’s conquest of the mainstream.
USDC available on Shopify: stablecoinization of e-commerce
Imagine: two million online stores using Shopify will soon be able to offer payment in USDC on Base. The customer places an order, clicks ‘pay’, and validates the transaction from their crypto wallet. It’s straightforward on the storefront, but much smoother at checkout.
Why USDC? Because the volatility of a traditional token would make every cart unstable. Stablecoins, on the other hand, guarantee a fixed price to the cent. Shopify had already understood this years ago by testing bitcoin, but now the technology is ready for scale. Stripe is at the heart of the system, and merchants will have the choice: keep their USDC or exchange it for fiat currency.
The feature will be initially deployed in early access. And a little bonus to come: a 1% cashback could be added to reward users. Enough to stimulate real adoption? Stay tuned.
An Amex card stamped with Coinbase: crypto luxury
Meanwhile, Coinbase has unveiled an American Express credit card. Not just another card linked to a crypto account: a real high-end card, with up to 4% cashback in bitcoin. But beware, the irony is palpable.
American Express is the anti-Visa. High merchant fees, limited acceptance outside the United States… yet it is the network chosen by Coinbase to attract wealthy Millennials and Gen Z. The card will weigh 17 grams, like the legendary Amex Centurion reserved for the elite. To access it, one must also subscribe to a Coinbase One subscription (between $5 and $30 a month).
A paradox? Perhaps not so much. Coinbase embraces a ‘premium’ strategy and targets high-value profiles: active traders, cashback enthusiasts, and demanding clients.
A deliberate shift towards Web2.5
Coinbase aims to transform cryptocurrency into an everyday tool, without denying the classic capitalist codes. Offering stable and instant payments to e-commerce while launching an Amex card reflects a hybrid strategy.
The goal is clear: integrate crypto into traditional payment systems, without necessarily disrupting them. It’s as if the dream of disintermediation has given way to a more pragmatic ambition: to conquer the system from within.
