Stripe meets Shopify: Here comes a boom for USDC’s adoption

Global financial services provider Stripe has partnered with Shopify to help their merchants accept payments in stablecoin USDC.

Through the partnership, Shopify customers in 34 countries around the world will be able to accept payments in the stablecoin issued by Circle.

The collaboration will allow shoppers to pay with USDC through their preferred crypto wallet. By default, Stripe will allow merchants to receive stablecoin payments in their preferred local currency, to be deposited in their bank account just like any other payment they receive.

Merchants will have another option to transfer funds as a stablecoin, in this case, USDC, directly to an external wallet.

The global stablecoin market is booming with more than $90 billion in stablecoin payments settled within the last two years.

“Stripe has long handled the hard parts of payments so our merchants don’t have to,” said Kaz Nejatian, COO & VP of Product at Shopify. “Now they’re doing the same for stablecoins—making it simple for our merchants to meet booming global demand without wrestling with crypto infrastructure.”

“We’re excited to work with Shopify to bring the benefits of stablecoins to a massive number of businesses at once,” said Neetika Bansal, head of Money Movement and Crypto at Stripe. “Now those businesses can reach more markets at lower costs—all without having to change how they already run their business.”

USDC is the world’s second-largest stablecoin with a market cap of more than $60 billion.