Coinbase Launches Online Crypto-Payment Gateway

Coinbase has been busy diversifying its income streams and has now launched a crypto-payment service gateway for on-line merchants.

Yesterday Coinbase Commerce launched a service that enables online stores to accept payments in four leading cryptocurrencies BTC, BCH, ETH and LTC (essentially PayPal for crypto).

The service runs directly on the blockchain by monitoring, validating and confirming client transactions on each blockchain. This means that it enables merchants to accept multiple cryptocurrencies directly into a user-controlled wallet, i.e. retailers have actual control of their own digital currency.

The new service already offer easy integration into Shopify, with Coinbase confirming that they are working hard on adding more integrations with other eCommerce platforms as soon as possible.

It’s great to see that Bitpay now has serious competition, which will lead to better service and lower fees.