Shopify merchants can now accept USDC payments via MetaMask and Coinbase's Base network. If 10% of Shopify's $200-300 billion annual volume moves to crypto, merchants could save $8.73 billion in fees, since Base charges 5,800 times less than traditional payment processors.
If you're paying attention to cryptocurrency, you are very early. This partnership is absolutely ridiculous. We have now USDC payments on MetaMask, and it's powered by Coinbase. You guys got to comprehend that this is one of the biggest e-commerce platforms on the face of the planet. This is Shopify. This doesn't mean to dump all your money in cryptocurrency. You have to have a strategy, but Shopify holds about 10 to 11% of the global e-commerce software/platform market. That means all these new people are going to have access to a stablecoin to purchase items on the e-commerce platform. Catch this, Shopify does $200-$300 billion in volume per year. So when it comes to people actually buying on their websites, we're talking about massive amounts of money, right? So let's say hypothetically they capture 10% of that. 10% of the people buying on Shopify start using USDC instead of, you know, the regular merchant. That 10% is not that much. It's only $29.2 billion worth of volume in crypto. But think about all the other companies that start trickling in and doing the same thing. When you, when you see this, this is where it gets really, really crazy. Right now, the fees on Shopify for payment, you know, merchant services is like 3% plus 30% per transaction. When we're talking about Base, right, which is the layer 2 for Coinbase, when we're talking about Coinbase fees, there is a monumental difference. It is significantly cheaper to buy items with USDC than it is with Shopify's current merchant services. So even if 10% of Shopify's $2.92 billion, you know, people started using USDC, we're talking about $8.73 billion worth of savings by just using USDC. It's even crazier than that. If you spend $10,000 on Shopify, you're gonna spend like about a $300 fee. If you use USDC instead, this is 5,800 times cheaper than using the current Shopify merchant service. It's not just a little bit better. They call this a hair-on-fire problem, and this is absurdly better. So all the other companies are gonna be like, oh snap, wait, hold on, I want 5,800 times cheaper on my website platform so that I can get more customers and more money can be spent and more money can be saved. That's what we want. So all these companies are gonna start trickling in because it's a hair-on-fire problem. A hair on fire problem is basically like, you'll do anything it takes to solve it, 'cause your hair's on fire. You're gonna do whatever it takes. This is not just a small leap. This is what you call, write this down, innovation! Wake up!
