It has been reported that according to a Twitter announcement, Dogecoin became the seventh cryptocurrency for merchants to accept payments on Coinbase’s e-commerce portal. The platform currently supports Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), along with stablecoins Dai and USD Coin (USDC).
However, an integration with Coinbase.com enables Coinbase Commerce customers to convert their crypto payments into US dollars, euros, British pounds, or USDC without leaving the e-commerce portal. According to a blog post dated October 2020, the same integration for Coinbase Prime and Pro accounts will be available soon.
The report said that Coinbase Commerce recently took the stage as Sotheby’s payment partner during the auction offering Banksy’s iconic protest artwork “Love Is In The Air.” At the 14-minute bidding battle, which was marked by the auction house as the first time cryptocurrency was accepted as a payment option for a piece of physical artwork, bidders could pay using Bitcoin or Ether through the partnership with Coinbase Commerce.
Thus, in March 2020, nearly two years after its inception, Coinbase Commerce surpassed $200 million in total transactions processed, with 8,000 retailers using Coinbase for payment services.