Coinbase has announced a partnership with WooCommerce, an open-source customizable e-commerce plugin integrated with WordPress, allowing its merchants to accept payments in cryptocurrencies.
Coinbase (NASDAQ:COIN) Commerce partners with WooCommerce
On Monday, November 21st, Coinbase Commerce announced a strategic partnership with WooCommerce. It will enable its merchants to accept payments in BTC, DOGE, and other cryptocurrencies.
As per the announcement, Coinbase Commerce will work as a payment processing partner for WooCommerce. The latter powers 25% of the top million online stores and allows millions of businesses to sell and manage orders online.
The assets currently available to WooCommerce merchants include Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, DAI, Litecoin, and USD Coin.
An expansion of service for Coinbase
According to the announcement, the recent partnership with WooCommerce is part of Coinbase’s long-term goal to introduce up to 100 million individuals to the cryptocurrency industry.
Matt Watts of Coinbase Business Development said that the company is “always looking for new ways to get more people involved in the cryptoeconomy.” The partnership will allow customers to make crypto a part of their daily lives.
On the Flipside
- On November 21st, the stock prices of Coinbase (COIN) began reacting to the market crash. They plummeted to an all-time low of $40.
Why You Should Care
As one of the most leveraged e-commerce plugins for small and medium-scale merchants, WooCommerce will likely bring crypto to millions of merchants worldwide.
The dip in Coinbase stocks is covered below:
Coinbase, MicroStrategy Bonds Drop To Record Lows on FTX Bankruptcy
Further effects of the bear market on Coinbase is covered below:
Coinbase (COIN) Announces Fresh Job Cuts Amid Deepening Bear Market