Do you still remember people asking: "Can I buy a cup of coffee with Bitcoin?" Now, crypto asset payment is no longer a niche scenario, but is regarded as the "payment method of the future" by global retail giants.

The latest big news: Shopify has officially launched USDC stablecoin payment. The first batch of merchants began testing on June 12 and is expected to be fully rolled out within the year. Meanwhile, it is reported that Amazon and Walmart are exploring the issuance of their own stablecoins, and even Expedia and airlines are looking into crypto asset payment.

What is driving this craze? What pain points do stablecoins solve? Should banks and credit card companies be nervous? This article analyzes the core reasons why e-commerce embraces crypto assets: Is it a passing trend or an inevitable choice?

01 Have E-commerce Suffered from Credit Card Fees for Years? Is Stablecoin the Answer? A simple fact: Payment has always been the invisible cost killer for e-commerce. Whether in Amazon, Shopify stores, or global markets, using credit cards, PayPal, or Apple Pay incurs fees.

For example, Visa and Mastercard typically charge 2-3% in fees. For every item sold, merchants have to pay this "invisible tax." Not to mention the foreign exchange fees and settlement delays for cross-border orders. Traditional payment methods are undoubtedly a burden on digital commerce.

In contrast, stablecoins offer an attractive alternative:

Real-time settlement (on-chain transactions) Low transaction costs (no intermediary fees) Cross-border compatibility (no foreign exchange hassle) Programmability (can be integrated with logistics and fulfillment systems) Therefore, it is not surprising that giants like Shopify, Walmart, and Amazon are actively evaluating whether they can take control of this value chain.

02 Shopify Takes the First Step: USDC Payment Pilot Launched Among e-commerce platforms, Shopify took the lead. In collaboration with Coinbase, Shopify launched the USDC payment feature based on the Base network (Coinbase's Ethereum Layer 2 network). The operation is as follows:

Customers pay with USDC on-chain Merchants receive fiat currency (automatically converted to USD, etc.) Circle and Shopify Payments handle the backend For customers, the experience remains unchanged; for merchants, there is no need to understand crypto assets, and the process is fully automatic. The key difference? Lower fees and faster settlements.

To attract users, Shopify even offers a 1% USDC cashback incentive. Earning money by paying with stablecoins directly challenges traditional payment channels.

This also demonstrates Shopify's deep insight into Web3 user behavior. Many stablecoin holders do not use credit cards or PayPal but have assets to spend. Shopify hopes to convert them into buyers.

03 Retail Giants Follow Suit: Amazon and Walmart Join the Race Shopify took the lead, but more symbolically, global retail giants have also started to take crypto asset payment seriously. Multiple mainstream media reports indicate:

Walmart and Amazon are exploring the issuance of their own stablecoins (similar to Facebook's Libra vision back then) Expedia and airlines are also looking into crypto asset payment (to simplify cross-border travel settlements) Why have traditional giants suddenly "gone all out"?

Reducing transaction costs: Stablecoins bypass acquiring institutions, significantly reducing fees Accelerating settlements: From days to seconds Enhancing customer retention: Crypto asset users are more likely to support merchants compatible with their wallets Bypassing traditional bank delays: No need to wait for bank transfers or credit approvals In short, stablecoins solve several long-standing pain points that e-commerce has struggled with for years. No wonder everyone is eager to try.

It is no coincidence that global payment providers have recently publicly criticized stablecoins - the pressure is real.

04 Crypto Asset Payment Is Not Fully Decentralized: "On-Chain Payment + Off-Chain Settlement" Is a Compromise It needs to be clear that crypto asset payment in practice is not fully decentralized. Taking Shopify's implementation as an example, it adopts a typical "on-chain/off-chain hybrid" model:

Users select USDC payment on the Shopify interface (through on-chain transactions on Base or Ethereum) Shopify receives the payment, and Circle converts it into fiat currency (such as USD, EUR, JPY) Fiat currency is delivered through traditional banking channels Therefore, although stablecoins bypass Visa or Mastercard, the last mile still relies on banks. This is precisely the issue that regulators are closely monitoring: Does stablecoin evade compliance? Is the clearing process transparent? How are AML and KYC handled?

Fortunately, Shopify and Circle have done their homework, and their implementation meets the current regulatory expectations for stablecoin compliance in the United States.

05 Why Are E-commerce Giants Betting on Stablecoins? Three Industry Anxieties Let's analyze the core driving factors:

1. Cost anxiety

Merchants are tired of paying credit card and PayPal fees. Stablecoins offer a way to bypass intermediaries, reduce costs, and accelerate cash flow.

1. Technology stack anxiety

Web2 platforms are still bound by the traditional banking system. In contrast, Web3 payment infrastructure is inherently:

Automated Borderless Transparent Coinbase and Shopify's open-source protocols can be directly integrated into order systems, much simpler than PayPal's traditional SDK.

1. User anxiety

The crypto asset user base is growing rapidly, and they "have coins but nowhere to spend them." Supporting crypto payment is a simple way to attract and retain this group. In addition, it also supports innovative reward mechanisms - cashback, NFT benefits, gamified loyalty programs.

06 Summary Can stablecoins reshape the global e-commerce payment landscape?

Look at the current signals:

Surging payment volume: Stablecoin monthly payment volume has increased from $2 billion two years ago to $6.3 billion, with a total global transaction volume exceeding $94 billion. Platforms are taking action: Shopify has launched, Amazon and Walmart are researching, and travel giants are also preparing. The trend is clear: The acceptance of crypto assets is on the rise, cross-border trade needs efficient settlements, and traditional payment systems have become a bottleneck. If Bitcoin is digital gold, then stablecoins are becoming digital dollars. E-commerce players who take the lead are laying the foundation for global payments in the next decade.