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Investing.com -- Coinbase (NASDAQ:COIN) stock rose slightly on Thursday while competitors PayPal (NASDAQ:PYPL) and Visa (NYSE:V) edged lower after the cryptocurrency exchange announced new business payment tools utilizing USDC stablecoin.
The crypto platform introduced two new features on Coinbase Business - global payouts and payment links - designed to streamline cross-border payments for businesses. The tools enable companies to send and receive USDC, a stablecoin pegged to the US dollar, with lower fees and instant settlement compared to traditional payment methods.
Coinbase’s global payouts feature allows businesses to send USDC to any blockchain address or email address without gas fees for recipients on networks like Base. The payment links feature enables businesses to create shareable links requesting specific USDC amounts, with payments settling in under a second on the Base network.
The company emphasized that these new tools address longstanding inefficiencies in traditional B2B payments, which often involve high fees, slow settlement times, and cross-border complications. Coinbase highlighted that USDC balances held in Coinbase Business accounts earn 4.1% APY and can be withdrawn to linked business bank accounts.
As part of this evolution, Coinbase announced plans to unify its Coinbase Commerce service with Coinbase Business in the coming months. The company noted that Coinbase Business is currently in alpha, serving early customers in the United States.
The new features are powered by Coinbase Crypto-as-a-Service (CaaS), the company’s underlying infrastructure that also supports enterprise clients like Shopify.
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