Coinbase has announced the launch of its “One Touch Payments” feature, aiming to improve cryptocurrency payments and expand their use globally.
Jesse Pollack revealed during the DevCon conference in Bangkok that the feature is currently being tested and will soon be rolled out to 50 countries.
This feature allows merchants to accept stablecoins like USDC and USDT, with the ability to convert them into local currencies, further strengthening the link between digital assets and traditional banking services.
The feature relies on a hybrid infrastructure, combining traditional banking systems with crypto technologies, and promises better interest rates and a faster, smoother payment experience.
Pollack added that the development of operational standards such as ERC-7693 and RIP-7755 enhances integration between Ethereum networks, especially the different L2 layers, enabling seamless migration between networks such as Arbitrum and Optimism.
To achieve its goals, Coinbase acquired Utopia Labs to enhance its crypto payments infrastructure.
The Utopia team brings extensive experience to Coinbase, particularly in developing blockchain payment solutions, supporting Coinbase’s vision of providing a low-cost, highly efficient global payments system.
Pollack stressed that these innovations aim to meet the growing demand for stablecoins, which recorded $8.5 trillion in transactions in the second quarter of 2024, and expand the use of crypto solutions to stimulate the digital economy globally.
