Coinbase Commerce Merchant Payment Processing Platform No Longer Supports Bitcoin

• "Customers can use any self-custody EVM wallet to pay. The fastest checkout is with any native asset or ERC-20 (including Wrapped Bitcoin) on L2s. Customers can also pay with any asset in their Coinbase account (including Bitcoin, Litecoin, and Doge)," said Lauren Dowling, Product Lead for Coinbase Commerce.

"The new Commerce product enforces the details of each payment onchain, supports hundreds of assets (native and ERC-20s) across Base, Polygon, and Ethereum, & automatically converts payments to USDC onchain at a guaranteed rate to merchants. Delivering these same capabilities on the Bitcoin blockchain without smart contracts and stablecoins was challenging & we therefore made the difficult decision to remove native Bitcoin & other UTXO support," she added.

• "Customers retain the ability to pay with UTXO assets like bitcoin from their Coinbase account, which accounts for a significant portion of the bitcoin volume we were seeing before making these changes. Since making the change, the results have brought us much closer to executing on our mission - seeing higher conversion rates, less manual effort, and glowing feedback from many merchants," was said in a post.

"We believe paying with crypto is going to primarily happen on Layer 2 in the future and we want to help make that happen. As I've shared separately, we're in the process of integrating Lightning into Coinbase. Hopefully there are opportunities to make commerce payments with Lightning in the future," added Coinbase CEO Brian Armstrong.

• To date, Coinbase is still looking into how to best integrate Lightning after announcing it back in April last year.
• Merchants who want to integrate Bitcoin payment support into their business can easily switch to BTCPay Server or Zaprite.

Armstrong's Statement / Archive
Dowling's Statement / Archive