Digital assets exchange Coinbase (NASDAQ:COIN) announced it’s bringing more seamless, global peer-to-peer payments to its customers.
Coinbase users will now be able to send stablecoin USDC instantly, anywhere in the world, without incurring any fees.
According to the update from the crypto exchange, all users need to send money is a phone number.
As shared by Coinbase with CI, here are the highlights:
- No wallet addresses needed – Send USDC with just a phone number or shareable link.
- Instant, 24/7 transfers – Payments happen right away, without waiting for bank hours.
- No fees – Even for international payments or large amounts, Coinbase processes transfers for free.
- Easy access in the app – A dedicated “Pay” tab in the Coinbase app makes it easy to find contacts and send money quickly.
P2P payments begins rolling out to users now and are said to become fully available during the next few weeks.
With rapid digitalization and increased globalization, businesses and consumers are looking for more frictionless ways to complete monetary transactions. It is no longer acceptable for payments to take several business days to complete. Businesses in the digital economy need to be able move money in much the same way as messages are communicated instantly via email or other messaging apps.
Coinbase started off as a basic crypto exchange but has now added a wide range of services in order to enhance UX. The digital assets company has introduced Bitcoin-backed lending, a debit card, and aims to offer a credit card as well. In the coming years, users will increasingly begin to expect more frictionless cross-border transactions with minimal fees (if any at all).
Even countries like India which have been overly critical of stablecoins have now finally acknowledged the considerable savings that come with transacting in digital dollars, especially for remittance payments. Given these developments, digital assets platforms like Coinbase appear poised to streamline USDC payments while enabling greater financial inclusion.
