According to Coinbase, they seek to provide alternatives to inefficient processes in traditional systems.
Specifically, two new functions will allow companies to optimize their operations.
The cryptocurrency exchange Coinbase has incorporated new tools to its Coinbase Business platform, with the aim of simplifying business payments and collections globally.
It’s about the functions Global Payouts and Payment Links, which allow companies to send and receive the USDC stablecoin with instant settlement and international coverage.
Thus, the first of both options facilitates the sending USDC to an address or email. Payments can be funded from Coinbase Business balances or through a linked bank account.
Additionally, recipients who do not have a cryptocurrency wallet can receive the funds by mail and create an account to collect them.
The second function allows companies to generate links to request specific payments in USDC, which clients can complete quickly, without gas fees and using wallets such as MetaMask or Phantom.
According to Coinbase, These tools seek to solve the inefficiencies of traditional systemssuch as high surcharges and delays typical of international transfers.
“For too long, conventional B2B payments have been a maze of high fees, slow settlement and cross-border friction,” pointed out the company in a statement.
Coinbase Business also includes an interface that allows you to automate on-demand, batch or scheduled payments, simplifying the management of suppliers and contractors in different countries.
The commitment to these new tools represents an additional effort by Coinbase to retain its users. Notably, in late September, the exchange expanded yield opportunities for USDC users through an integration with Morpho, a decentralized lending protocol.
As reported by CriptoNoticias, this alliance allows you to lend the stablecoin directly from the Coinbase app and obtain returns of up to 10.8% annually.