Leading U.S. crypto exchange Coinbase has launched a new protocol for on-chain payments. The new open-source Onchain Payment Protocol is an update to Coinbase’s Commerce product.
According to a blog post, the new protocol will simplify and standardize on-chain payments for currencies available on Base, Polygon, and other Ethereum Virtual Machine networks, offering volatility-free payments and low transaction fees.
Coinbase’s New Protocol for On-Chain Payments
Coinbase revealed that the new protocol aims to solve common crypto transaction issues merchants and customers face. The update will unify on-chain payments, ensuring clarity, reliability, and a consistent experience for all users, notwithstanding their platform or wallet choices.
“At Coinbase we believe that on-chain is the new online. Just like the internet broke down barriers, democratized access to information, and made knowledge universally available, we believe crypto is doing the same with broader access to financial
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