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Commerce Payments Protocol Experiences Significant Growth on Base Network
The Commerce Payments Protocol, developed collaboratively by Coinbase and Shopify, has reported a substantial increase in transaction volume since its launch on the Base network in June 2025. The open-source protocol has processed approximately $1.7 million in settled USDC volume across around 8,000 transactions, with a notable surge occurring in the last two months, where about $750,000 was processed.
The protocol operates as a permissionless smart contract system on Base, which is built on Ethereum. It facilitates various payment operations, including escrow-based payment flows, refunds, and voids. Merchants using Shopify Payments can accept USDC payments seamlessly, with the option to receive payouts in USDC or convert them to local currency without incurring foreign exchange fees.
As of early February 2026, data indicated that over $1.2 million in USDC had been processed through the protocol, involving roughly 3,200 customers and 5,700 merchants. The protocol has expanded its reach beyond Shopify merchants, allowing developers from various sectors to integrate its infrastructure into their commerce systems without needing permission from Coinbase or Shopify. This flexibility is expected to enhance the adoption of cryptocurrency in e-commerce, simplifying the payment process for both merchants and consumers.
Source: KLEA News