Coinbase's New Tool: Making Crypto Payments Easier for Businesses

Coinbase, a big name in the crypto world, has just launched a new service called Coinbase Business. This platform is designed to make it easier for companies to use USDC, a type of digital money that's tied to the US dollar, for payments. The new tool helps businesses pay vendors and get paid without the hassle of chargebacks. It also connects smoothly with other software like QuickBooks and Xero, making it a breeze to keep track of crypto payments while following the rules. One cool thing about this platform is that businesses can earn 4. 1% APY on their USDC balances. They can also cash out whenever they need to, straight to their bank account. The stablecoin market is heating up, and Coinbase is right in the middle of it. USDC is the second-largest stablecoin, with a market cap of $76 billion. Coinbase shares the revenue from USDC with Circle, another big player in the crypto space. Coinbase is also exploring other ways to use stablecoins. They've had talks about buying BVNK, a company that specializes in stablecoin payments. Plus, they're working on some futuristic stuff like AI-driven commerce and a new payments protocol called x402. Tom Duff Gordon, who works at Coinbase, thinks that using stablecoins for things like micro-payments between machines is the future. He believes it won't happen overnight, but it's definitely coming.