The Commerce Payments Protocol that Shopify and Coinbase built to let Shopify merchants accept USDC has settled about $42.1 million across more than 448,000 payments since launching on Coinbase’s Base network in June 2025, according to a Base case study. The totals cover all activity on the protocol, which is open source, so they aren’t a count of Shopify sales alone. Shoppers pay in USDC from a crypto wallet without paying network fees, which Coinbase covers, while eligible merchants get paid in their local currency on their normal Shopify Payments schedule. The protocol holds a buyer’s funds in a smart contract until the merchant captures the payment, so merchants can void or refund it the way they would a card authorization.
