Coinbase Launches Stablecoin Payments Service for E-Commerce (1)

Coinbase Global Inc. is launching a platform designed to make stablecoins a go-to payment method for online transactions, a potentially big leap forward in the mainstream adoption of cryptocurrencies meant to track the US dollar.

The announcement follows the passage of landmark stablecoin legislation in the US Senate on Tuesday and comes as large retailers have expressed interest in exploring stablecoins for use as payments in online transactions, a roughly $6 trillion industry. Such use of this type of cryptocurrency threatens to circumvent card networks Visa Inc. and Mastercard Inc. and other online payment services.

“We built the new ...