Coinbase Commerce add support for Dogecoin payments – Dogecoin has become the 7th cryptocurrency accepted on Coinbase Commerce, the e-commerce arm of the United States-based crypto exchange.
Financial Watch gathered according to a Twitter announcement, Dogecoin became the seventh cryptocurrency for merchants to accept payments on Coinbase’s e-commerce portal. The platform currently supports Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) along with stablecoins Dai (DAI) and USD Coin (USDC).
An integration with Coinbase.com enables Coinbase Commerce customers to convert their crypto payments into U.S. dollars, euros, pounds or USDC without leaving the e-commerce portal. According to a blog post dated October 2020, the same integration for Coinbase Prime and Pro accounts will be available soon.
Coinbase Commerce recently took the stage as Sotheby’s payment partner during the auction offering Banksy’s iconic protest artwork Love is in the Air.
At the 14-minute bidding battle, which was marked by the auction house as the first time cryptocurrency was accepted as a payment option for a piece of physical artwork, bidders could pay using Bitcoin or Ether through the partnership with Coinbase Commerce. Sotheby sold Banksy’s art for $12.9 million, but the auction house didn’t comment on whether the final payment was made with crypto.
In March 2020, nearly two years after its inception, Coinbase Commerce surpassed $200 million in total transactions processed with 8,000 retailers using Coinbase for payment services.
Product lead John Zettler then said that Bitcoin was by far the preferred payment method among the available cryptocurrencies on the platform, adding that “Merchant customers often tell us it’s the crypto they’re most familiar with and the one they trust the most.”