{"id":85541,"date":"2023-11-17T00:55:34","date_gmt":"2023-11-17T05:55:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/coinbase-unveils-open-source-on-chain-payments-protocol-to-offer-instant-settlement-for-merchants\/"},"modified":"2023-11-17T00:55:35","modified_gmt":"2023-11-17T05:55:35","slug":"coinbase-unveils-open-source-on-chain-payments-protocol-to-offer-instant-settlement-for-merchants","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85541","title":{"rendered":"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants"},"content":{"rendered":"<div>\n<figure id=\"attachment_132632\" aria-describedby=\"caption-attachment-132632\" style=\"width: 806px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-132632\" class=\"wp-caption-text\">Source: AdobeStock \/ rarrarorro<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">San Francisco-based cryptocurrency exchange Coinbase has introduced an open-source On-Chain Payments Protocol to its Coinbase Commerce product.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The new protocol aims to enhance the payment experience for merchants and customers by providing instant settlement, low fees, and broad asset support, the exchange\u00a0<\/span><span data-preserver-spaces=\"true\">said in a Thursday announcement<\/span><span data-preserver-spaces=\"true\">.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Coinbase Commerce is a platform that helps merchants anywhere in the world accept cryptocurrency payments in a decentralized way.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the volatility of cryptocurrencies and the complexities of the payment process have been obstacles for both merchants and consumers.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The updated Commerce product aims to address these challenges and provide a more seamless and user-friendly payment experience.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Coinbase\u2019s On-Chain Payments Protocol to Simply Payments<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">Coinbase\u2019s On-Chain Payments Protocol will act as a universal standard aimed to simplify and unify on-chain payments.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">By making the protocol open source, Coinbase encourages other payment processors and businesses to build upon it.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The exchange said the new update offers major benefits for merchants.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With a single setup and easy integration, merchants can facilitate on-chain transactions, enjoy volatility-free payments, benefit from low transaction fees, and receive instant settlement in hundreds of crypto assets.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The streamlined onboarding process and out-of-the-box integrations with platforms like WooCommerce, Primer, and Jumpseller make it easy for merchants to accept their first payment in minutes.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The On-Chain Payments Protocol also ensures that customers have a reliable and accurate payment experience.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It supports multiple wallets and currencies, allowing customers to pay with their preferred wallet across the Base, Ethereum, and Polygon networks.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">On-Chain Payments Protocol Automatically Converts Assets<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">The On-Chain Payments Protocol automatically converts the customer\u2019s chosen currency to USDC at a guaranteed rate, simplifying accounting and operations for merchants.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Additionally, real-time transaction validation provides instant payment confirmation, eliminating any doubts or delays.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Coinbase Commerce is also set to benefit Coinbase\u2019s millions of verified users by enabling seamless checkout experiences for retail payments.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The platform shares payment information directly with the user\u2019s wallet, eliminating the need for manual data entry and reducing the potential for errors.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Coinbase has been on a spree as of late, launching a series of products and services for crypto users.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Just last week, the\u00a0<\/span><span data-preserver-spaces=\"true\">platform announced<\/span><span data-preserver-spaces=\"true\">\u00a0that it will add support for\u00a0<\/span><span data-preserver-spaces=\"true\">Solana<\/span><span data-preserver-spaces=\"true\">\u00a0(SOL) and\u00a0<\/span><span data-preserver-spaces=\"true\">Avalanche<\/span><span data-preserver-spaces=\"true\">\u00a0(AVAX) perpetual futures contracts.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Prior to that, Coinbase\u00a0<\/span><span data-preserver-spaces=\"true\">announced the launch<\/span><span data-preserver-spaces=\"true\">\u00a0of its native Bitcoin and Ethereum futures contracts for US retail traders.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Coinbase\u2019s recent milestone achievements have not come without controversies.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">One such is its ongoing battle with the US\u00a0<\/span><span data-preserver-spaces=\"true\">Securities and Exchange Commission<\/span><span data-preserver-spaces=\"true\">\u00a0(SEC), which has accused the firm of not meeting the requirements of being a security trading entity.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The platform has refuted the top regulatory body\u2019s claims, stating that its activities do not fall under the agency\u2019s legal purviews.<\/span><\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/coinbase-unveils-open-source-on-chain-payments-protocol-to-offer-instant-settlement-for-merchants.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: AdobeStock \/ rarrarorro San Francisco-based cryptocurrency exchange Coinbase has introduced an open-source On-Chain Payments Protocol to its Coinbase Commerce product. The new protocol aims to enhance the payment experience for merchants and customers by providing instant settlement, low fees, and broad asset support, the exchange\u00a0said in a Thursday announcement.\u00a0 Coinbase Commerce is a platform [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-85541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: AdobeStock \/ rarrarorro San Francisco-based cryptocurrency exchange Coinbase has introduced an open-source On-Chain Payments Protocol to its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=85541\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Source: AdobeStock \/ rarrarorro San Francisco-based cryptocurrency exchange Coinbase has introduced an open-source On-Chain Payments Protocol to its\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=85541\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-17T05:55:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-17T05:55:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/1700199882-coinbase-logo.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"806\" \/>\n\t<meta property=\"og:image:height\" content=\"473\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=85541#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=85541\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants\",\"datePublished\":\"2023-11-17T05:55:34+00:00\",\"dateModified\":\"2023-11-17T05:55:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=85541\"},\"wordCount\":495,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=85541#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=85541\",\"url\":\"https:\/\/ifintechworld.com\/?p=85541\",\"name\":\"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-11-17T05:55:34+00:00\",\"dateModified\":\"2023-11-17T05:55:35+00:00\",\"description\":\"Source: AdobeStock \/ rarrarorro San Francisco-based cryptocurrency exchange Coinbase has introduced an open-source On-Chain Payments Protocol to its\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=85541#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=85541\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=85541#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants | iFintechWorld","description":"Source: AdobeStock \/ rarrarorro San Francisco-based cryptocurrency exchange Coinbase has introduced an open-source On-Chain Payments Protocol to its","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=85541","og_locale":"en_US","og_type":"article","og_title":"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants | iFintechWorld","og_description":"Source: AdobeStock \/ rarrarorro San Francisco-based cryptocurrency exchange Coinbase has introduced an open-source On-Chain Payments Protocol to its","og_url":"https:\/\/ifintechworld.com\/?p=85541","og_site_name":"iFintechWorld","article_published_time":"2023-11-17T05:55:34+00:00","article_modified_time":"2023-11-17T05:55:35+00:00","og_image":[{"width":806,"height":473,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/1700199882-coinbase-logo.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=85541#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=85541"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants","datePublished":"2023-11-17T05:55:34+00:00","dateModified":"2023-11-17T05:55:35+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=85541"},"wordCount":495,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=85541#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=85541","url":"https:\/\/ifintechworld.com\/?p=85541","name":"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-11-17T05:55:34+00:00","dateModified":"2023-11-17T05:55:35+00:00","description":"Source: AdobeStock \/ rarrarorro San Francisco-based cryptocurrency exchange Coinbase has introduced an open-source On-Chain Payments Protocol to its","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=85541#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=85541"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=85541#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Coinbase Unveils Open Source On-Chain Payments Protocol to Offer Instant Settlement for Merchants"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/85541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=85541"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/85541\/revisions"}],"predecessor-version":[{"id":85543,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/85541\/revisions\/85543"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/85542"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=85541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=85541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=85541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}