Last May, we introduced DAI as a tradable asset on Coinbase. Starting today, Coinbase Commerce merchants can also accept DAI as a form of payment by linking their online storefront to a Coinbase Commerce checkout, or in-person using the point-of-sale interface (both are accessible through the merchant dashboard)¹. For existing Coinbase Commerce merchants, DAI will automatically show up in your checkouts if you have all currencies enabled. Otherwise, you can enable it in the merchant settings menu.
Coinbase Commerce now supports 2 stablecoin currencies: DAI and USDC.
Stablecoins like DAI and USDC provide a less volatile means of storing cryptocurrency, tied to the value of fiat currency rather than the speculations of the crypto markets. Enabling these options on Coinbase Commerce means merchants and customers can take advantage of buying and selling goods worldwide with the added benefit of holding stable currency value on a decentralized network.
We’re just getting started on our quest to make cryptocurrencies an easy payment option and are continually improving Coinbase Commerce based on your awesome feedback. If you have an idea for a feature or product enhancement, tell us on Twitter at @CommerceCB.
You can sign up for a Coinbase Commerce account here to start accepting DAI and crypto for your e-commerce site today.
¹ Note: deprecated SAI payments will not be supported. Users will be warned not to send SAI, as their funds may be lost if they do so.