Coinbase Now Accepts Dogecoin For Commerce Payments: Why It’s A ‘Big Deal’ – Converted Organics (COIN)

Cryptocurrency exchange Coinbase Global Inc. (NASDAQ:COIN) said Wednesday it has started to accept meme cryptocurrency Dogecoin (CRYPTO: DOGE) for commerce payments.

What Happened: Coinbase announced the decision on Twitter.

On its website, the company provided details on how vendors using the Shopify Inc. (NYSE:SHOP) platform can accept multiple cryptocurrencies, including Dogecoin, on their Shopify store with Coinbase Commerce.

Coinbase’s move was hailed by Dogecoin co-creator Billy Markus, who goes by the username Shibetoshi Nakamoto on Twitter, as a “big deal.”

See Also: Dogecoin Campaign Leads To $5M Lawsuit For Coinbase Over Claims Of Deception

Why It Matters: Dogecoin is the latest cryptocurrency to be integrated with Coinbase Commerce.

Bitcoin (CRYPTO: BTC), Bitcoin Cash (CRYPTO: BCH), DAI (CRYPTO: DAI), Ethereum (CRYPTO: ETH), Litecoin (CRYPTO: LTC), and USD Coin (CRYPTO: USDC) are already supported by Coinbase’s e-commerce platform.

Dogecoin’s acceptance as a payment option by companies has gained momentum this year. A growing list of retailers including convenience store chain Sheetz Inc. and online tech retailer Newegg Commerce Inc. (NASDAQ:NEGG) accept payments using digital currencies, including Dogecoin.

Price Action: Coinbase Global shares closed 2.6% higher in Wednesday’s trading at $230.87.

Dogecoin is up 6.9% during the past 24 hours, trading at $0.1925 at press time.

Read Next: Bitcoin, Etheruem, Dogecoin See Major Rebound Amid Elon Musk ‘B Word’ Appearance But Minor Altcoins Are Still King



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