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Meme-based token Dogecoin (DOGE) now accepted on Coinbase Commerce | Invezz

invezz.com 22 July 2021 09:58, UTC
Reading time: ~2 m

Coinbase Commerce, the e-commerce branch of the largest U.S-based crypto company, has added Dogecoin payments to its platform.

With this new development, the meme-based token has become the 7th cryptocurrency to be accepted on the platform. Coinbase Commerce announced the addition via its official Twitter page earlier today.

much payment. very commerce. 🐕

Just a quick blast to let you know we’re now accepting commerce payments in Dogecoin (DOGE)!

— Coinbase Commerce (@CommerceCB) July 21, 2021

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Other crypto assets earlier added to the platform include Bitcoin (BTC/USD), Litecoin (LTC/USD) Bitcoin Cash (BCH/USD), Ether (ETH/USD), and stable coins USD Coin and Dai (DAI).

Coinbase Commerce keeps expanding

Coinbase Commerce has been busy in the market, with series of integration and partnerships. The most recent is becoming Sotheby’s payment partner during the auctioning of the “Love Is in The Air” protest artwork.

In March last year, the platform announced it has crossed $200 million when it comes to total processed transactions. Presently, more than 8,000 retailers are utilizing the platform for payment services. Product lead at Coinbase Commerce John Zettler commented that among the 7 listed cryptocurrencies, Bitcoin is the most utilized by users for payments.

More spending options for Dogecoin holders

Users of Coinbase Commerce can now convert their crypto payments into USDC, pounds, euros, or US dollars without leaving the e-commerce platform.

Already Dogecoin proponents are expressing their excitement about the development, as it could lead to more adoption of the token. The token is gradually seeing a surge after hitting lows the previous week. Elon Musk’s reassurance of support for the token along with present market sentiment could galvanize the price of the crypto asset further.

This development could serve as a stimulus to propel Doge even higher, as it is currently on the rise. The current market sentiment, along with Musk’s reaffirmation of support and this development, is the perfect recipe for Doge to soar higher.

Coinbase stated that it’s planning to make the same integration for Coinbase Pro and Prime accounts very soon.

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