Will Payments Be Crypto's Killer App as E-commerce Giants Like Shopify, Walmart, and Amazon Suddenly Embrace Stablecoins?
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Will Payments Be Crypto's Killer App as E-commerce Giants Like Shopify, Walmart, and Amazon Suddenly Embrace Stablecoins?
This article analyzes the core reasons behind e-commerce embracing cryptocurrency assets: is it a passing trend or an inevitable choice?
Navigating Web3 tides with focused insightsBy: Baihua Blockchain
Remember when people asked, "Can I buy a cup of coffee with Bitcoin?" Today, cryptocurrency payments are no longer a niche use case—they’re being embraced by global retail giants as “the future of payments.”
The latest big news: Shopify has officially launched USDC stablecoin payments. The first group of merchants began testing on June 12, with full rollout expected within the year. Meanwhile, reports suggest Amazon and Walmart are exploring launching their own stablecoins, and even Expedia and airlines are studying crypto payment integration.
What’s driving this surge? What problems do stablecoins solve? Should banks and credit card companies be worried? This article explores why e-commerce is embracing crypto—Is it just a passing trend, or an inevitable shift?
01 E-commerce has long struggled with credit card fees—Are stablecoins the answer?
A simple truth: Payment processing has been a hidden cost killer for e-commerce. Whether on Amazon, Shopify stores, or global marketplaces, every transaction via credit card, PayPal, or Apple Pay comes with fees.
For example, Visa and Mastercard typically charge 2–3%. Every time a product sells, merchants pay this “invisible tax.” Not to mention foreign exchange fees and settlement delays on cross-border orders. Traditional payment methods are undeniably a burden on digital commerce.
In contrast, stablecoins offer a compelling alternative:
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Real-time settlement (on-chain transactions)
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Low transaction costs (no intermediary fees)
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Cross-border compatibility (no FX complications)
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Programmability (integration with logistics and fulfillment systems)
No wonder giants like Shopify, Walmart, and Amazon are actively evaluating whether they can take control of this value chain themselves.
02 Shopify fires the first shot: USDC payment pilot goes live
Among e-commerce platforms, Shopify is leading the charge. In partnership with Coinbase, Shopify has launched a USDC payment feature built on the Base network (Coinbase’s Ethereum Layer 2). Here's how it works:
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Customers pay in USDC on-chain
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Merchants receive fiat currency (automatically converted to USD, etc.)
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Circle and Shopify Payments handle backend processing
For customers, the experience remains unchanged. For merchants, there’s no need to understand crypto—the process is fully automated. The key difference? Lower fees and faster settlements.
To incentivize adoption, Shopify even offers a 1% USDC cashback reward. Earning money by paying with stablecoins directly challenges traditional payment channels.
This also reflects Shopify’s deep understanding of Web3 user behavior. Many stablecoin holders don’t use credit cards or PayPal—but they have assets to spend. Shopify aims to convert them into buyers.
03 Retail giants follow: Amazon and Walmart join the race
Shopify moved first, but the real significance lies in global retail leaders now taking crypto payments seriously. Multiple mainstream outlets have reported:
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Walmart and Amazon are exploring issuing their own stablecoins (similar to Facebook’s Libra vision years ago)
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Expedia and airlines are researching crypto payments (to streamline cross-border travel settlements)
Why are traditional giants suddenly all-in?
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Lower transaction costs: Stablecoins bypass acquirers, drastically reducing fees
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Faster settlement: From days down to seconds
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Better customer retention: Crypto users prefer merchants compatible with their wallets
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Bypassing bank delays: No more waiting for bank transfers or credit approvals
In short, stablecoins address several long-standing pain points that e-commerce has struggled with for years. No wonder everyone is eager to jump in.
It’s no coincidence that major payment providers recently criticized stablecoins publicly—the pressure is real.
04 Crypto payments aren’t fully decentralized: “On-chain payment + off-chain settlement” is the compromise
Let’s be clear: Real-world crypto payments aren’t fully decentralized. Take Shopify’s implementation—it uses a typical “on-chain / off-chain hybrid” model:
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Users select USDC payment on Shopify (via Base or Ethereum on-chain transaction)
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Shopify receives the payment; Circle converts it into fiat (e.g., USD, EUR, JPY)
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Fiat is delivered through traditional banking channels
So while stablecoins bypass Visa or Mastercard, the last mile still relies on banks. This is precisely what regulators are watching closely: Do stablecoins evade compliance? Is the clearing process transparent? How are AML and KYC handled?
Luckily, Shopify and Circle have done their due diligence—their approach aligns with current U.S. regulatory expectations for stablecoin compliance.
05 Why are e-commerce giants betting on stablecoins? Three industry anxieties
Let’s examine the core drivers:
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.
2. Tech stack anxiety
Web2 platforms remain tied to legacy banking systems. In contrast, Web3 payment infrastructure is inherently:
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Automated
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Borderless
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Transparent
Open-source protocols from Coinbase and Shopify can plug directly into order systems—far simpler than PayPal’s traditional SDKs.
3. User anxiety
The crypto user base is growing fast—and many are “holding coins but nowhere to spend them.” Supporting crypto payments is a straightforward way to attract and retain this audience. Plus, it enables innovative reward mechanisms—cashback, NFT perks, gamified loyalty programs.
06 Summary
Can stablecoins reshape the global e-commerce payment landscape?
Consider the signals:
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Payment volume surge: Monthly stablecoin transaction volume has grown from $2 billion two years ago to $6.3 billion, with total global transactions exceeding $94 billion.
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Platform momentum: Shopify has launched, Amazon and Walmart are exploring, travel leaders are preparing.
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Trend is clear: Crypto adoption is rising, cross-border trade demands efficient settlement, and legacy payment systems are becoming bottlenecks.
If Bitcoin is digital gold, then stablecoins are becoming digital dollars. Early-mover e-commerce players are laying the foundation for global payments in the next decade.
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