Shopify’s new partnership with Solana Pay offers a crypto-focused e-commerce experience via USDC payments.
Solana Labs’ decentralized payment protocol, Solana Pay, has taken a decisive step in the e-commerce sector, announcing its integration with Shopify, announced on August 23 via TechCrunch. This development will empower numerous businesses to seamlessly facilitate payments using USDC, the stablecoin closely tied to the U.S. dollar.
Initiated in early 2022, Solana Pay operates atop the layer-1 Solana blockchain. With a substantial market cap of $25.9 billion, USDC emerges as the primary currency for this partnership. The coin’s regulatory clarity and its USD peg make it a favorable option for merchants across the board:
Shopify’s historical trajectory reveals a consistent trend of exploring and embracing blockchain-driven solutions.
Its portfolio already includes the facilitation of advanced blockchain-centric commerce utilities such as NFT integration and “a framework enabling merchants to launch “tokengated stores” to which fans can have early or exclusive access to,” providing merchants with the tools to craft sophisticated token-gated applications.