Shopify, Walmart, Amazon, and other e-commerce giants are suddenly turning to stablecoins. Will payments be the killer application for cryptocurrency?

This article analyzes the core reasons why e-commerce is embracing crypto assets: Is this a temporary trend or an inevitable choice?

Written by: Blockchain in Plain Language

Do you remember when people used to ask, "Can I buy a cup of coffee with Bitcoin?" Today, crypto asset payments are no longer a niche scenario but are seen by global retail giants as "the future of payment."

Recent big news: Shopify has officially launched USDC stablecoin payments, with the first batch of merchants starting testing on June 12, and a full rollout expected within the year. At the same time, Amazon and Walmart are reportedly exploring the issuance of their own stablecoins, and even Expedia and airlines are researching crypto asset payments.

What is driving this trend? What pain points do stablecoins solve? Should banks and credit card companies be worried? This article analyzes the core reasons why e-commerce is embracing crypto assets: Is this a temporary trend or an inevitable choice?

01 E-commerce has long been troubled by credit card fees; is stablecoin the answer?

The simple fact is: payment has always been an invisible cost killer for e-commerce. Whether on Amazon, Shopify stores, or global markets, every time a credit card, PayPal, or Apple Pay is used, fees are incurred.

For example, Visa and Mastercard typically charge fees of 2-3%. For every item sold, merchants have to pay this portion of "invisible tax." Not to mention the foreign exchange fees and settlement delays for cross-border orders. Traditional payment methods are undoubtedly a burden for digital commerce.

In contrast, stablecoins offer an appealing alternative:

Real-time settlement (on-chain transactions)
Low transaction costs (no intermediary fees)
Cross-border compatibility (no foreign exchange hassles)
Programmability (can be integrated with logistics and fulfillment systems)

Therefore, it is not surprising that giants like Shopify, Walmart, and Amazon are actively assessing whether they can take control of this value chain.

02 Shopify fires the first shot: USDC payment pilot launched

Among e-commerce platforms, Shopify took the lead. In partnership with Coinbase, Shopify launched a USDC payment feature based on the Base network (Coinbase's Ethereum Layer 2 network). Here's how it works:

Customers pay with USDC on-chain
Merchants receive fiat currency (automatically converted to USD, etc.)
Circle and Shopify Payments handle the backend

For customers, the experience remains unchanged; for merchants, there is no need to understand crypto assets, as the process is fully automated. The key difference? Lower fees and faster settlement.

To attract users, Shopify even offers a 1% USDC cashback incentive. Paying with stablecoins can also earn money, directly challenging traditional payment channels.

This also demonstrates Shopify's deep insight into Web3 user behavior. Many stablecoin holders do not use credit cards or PayPal but have assets to spend. Shopify hopes to convert them into buyers.

03 Retail giants follow suit: Amazon and Walmart join the race

Shopify took the lead, but what is more symbolic is that global retail giants are also starting to take crypto asset payments seriously. Several mainstream media outlets have reported:

Walmart and Amazon are exploring the issuance of their own stablecoins (similar to Facebook's vision for Libra)
Expedia and airlines are also researching crypto asset payments (to simplify cross-border travel settlements)

Why are traditional giants suddenly "going all in"?

Reducing transaction costs: Stablecoins bypass acquiring institutions, significantly reducing fees
Accelerating settlement: Shortening from days to seconds
Enhancing customer retention: Crypto asset users are more likely to support merchants compatible with their wallets
Bypassing traditional bank delays: No need to wait for bank transfers or credit approvals

In short, stablecoins address several long-standing pain points that e-commerce has struggled with for years. It's no wonder everyone is eager to try.

The recent public criticism of stablecoins by global payment providers is not coincidental—there is real pressure.

04 Crypto asset payments are not completely decentralized: "On-chain payments + off-chain settlements" is a compromise

It is important to clarify that actual crypto asset payments are not completely decentralized. Taking Shopify's implementation as an example, it adopts a typical "on-chain/off-chain hybrid" model:

Users select USDC payment on the Shopify interface (via Base or Ethereum on-chain transactions)
Shopify receives the payment, and Circle converts it to fiat currency (such as USD, EUR, JPY)
Fiat currency is delivered through traditional banking channels

Therefore, although stablecoins avoid Visa or Mastercard, the last mile still relies on banks. This is precisely the issue that regulators are closely monitoring: Are stablecoins circumventing compliance? Is the clearing process transparent? How are AML and KYC handled?

Fortunately, Shopify and Circle have done their homework, and their implementation aligns with current regulatory expectations for stablecoin compliance in the U.S.

05 Why are e-commerce giants betting on stablecoins? Three major industry anxieties

Let's analyze the core driving factors:

1. Cost anxiety

Merchants are tired of paying credit card and PayPal fees. Stablecoins provide a way to bypass intermediaries, reduce costs, and accelerate cash flow.

2. Technology stack anxiety

Web2 platforms are still bound by traditional banking systems. In contrast, Web3 payment infrastructure inherently possesses:

Automation
Borderless
Transparency

Coinbase and Shopify's open-source protocols can be directly integrated into order systems, making them much simpler than PayPal's traditional SDK.

3. User anxiety

The crypto asset user base is growing rapidly, and they "have coins but nowhere to spend them." Supporting crypto payments is a simple way to attract and retain this group. Additionally, it supports innovative reward mechanisms—cashback, NFT benefits, gamified loyalty programs.

06 Conclusion

Can stablecoins reshape the global e-commerce payment landscape?

Let's look at the current signals:

Surge in payment volume: Monthly payment volume for stablecoins has increased from $2 billion two years ago to $6.3 billion, with a total global transaction volume exceeding $94 billion.
Platforms are taking action: Shopify has launched, Amazon and Walmart are researching, and travel giants are preparing.
The trend is evident: Acceptance of crypto assets is rising, cross-border trade requires efficient settlement, and traditional payment systems are becoming bottlenecks.

If Bitcoin is digital gold, then stablecoins are becoming digital dollars. E-commerce players who act first are laying the foundation for global payments in the next decade.

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