Coinbase Expanding its Commerce Section to Include Woo Commerce
Adoption news keeps moving this week, from Wall Street to Australia, and today San Francisco. It could be just what more online merchants need to get comfortable with cryptocurrency. The United States largest cryptocurrency bank, Coinbase, announced it is expanding its commerce section to add Woo Commerce with a plugin downloadable from Github.
Coinbase Seeks Online Merchant Crypto Adoption by the Millions
More than a quarter of all online merchants use Woo Commerce. This week, Coinbase announced it is releasing a Woo Commerce plugin as part of its proprietary Coinbase Commerce offering which may be downloaded from Github. It’s easily probably the most popular payment platforms around.
Coinbase Commerce is itself a payment solution focusing on getting more online merchants to use cryptocurrency. Woo Commerce businesses will “have access to cryptocurrency payments from customers around the world,” Coinbase stressed. “This increased access will lead to more widespread adoption, and ultimately, moves us closer to our goal of an open financial system.”
At the moment, ethereum and bitcoin cash (BCH) are still being examined on the platform, but users who keep bitcoin core (BTC) and litecoin can send theirs from Coinbase Commerce. The group is focusing on building similar functionality for bitcoin cash and ethereum.
Merchants who utilize the payment button React will have the choice of embedding Coinbase functionality aswell. The idea appears to be keeping merchants happy by not asking them for acceptance payment fees. The San Francisco-based crypto bank can be incorporating programming languages such as Python, and are said to even be considering Ruby.
These are just a scant few moves Coinbase has been making as a unit this year. They are now involved with institutional financial products, and are launching a crypto index fund, gobbling up licenses such as the Bitlicense, have purchased Paradax exchange, and are plotting a move into Japan.
The payment processing market is a huge one. And while the space gets crowded a bit, Coinbase has a built-in advantage being a relatively early mover in the ecosystem, an extremely positive brand identification, and a host of lincenses and general trust among weathermen. All the proof anyone would have to measure just how large is, say, the latest announcement by Wall Street and its entrance into all things retail with Bakkt (includes Microsoft and Starbucks).