E-commerce Giants Embrace Encryption Payments: Stablecoins are Reshaping Global Payment Formats

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

Recently, a large e-commerce platform officially launched the USDC stablecoin payment function, with the first batch of merchants starting testing on June 12, and full promotion expected within the year. At the same time, two globally renowned retail giants are reportedly exploring the issuance of their own stablecoins, and even some travel and airline companies are researching encryption asset payments.

What is driving this wave? What pain points do stablecoins solve? Should traditional financial institutions be worried? Let's analyze the core reasons why e-commerce is embracing encryption assets: is this a temporary trend or an inevitable choice?

E-commerce has long been troubled by traditional payment fees; can stablecoins be the solution?

Simple fact: Payments have always been the invisible cost killer for e-commerce. Whether on major e-commerce platforms or the global market, every time you use a credit card or other traditional payment methods, fees are incurred.

For example, mainstream credit cards usually charge a fee of 2-3%. Every time a product is sold, merchants have to pay this part of the "invisible tax". Not to mention the foreign exchange fees and settlement delays for cross-border orders. Traditional payment methods are undoubtedly a burden on digital commerce.

In contrast, stablecoins offer an attractive alternative:

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

Therefore, it is not surprising that major e-commerce and retail giants are actively assessing whether they can take control of this value chain themselves.

A certain e-commerce platform takes the lead: USDC payment pilot launched

In the e-commerce platform, a leading platform takes the lead. In collaboration with a certain cryptocurrency exchange, the platform launches a USDC payment function based on a specific blockchain network. The operation is as follows:

• Customers use USDC for payments on the blockchain.
• Merchants receive fiat currency (automatically converted to USD, etc.)
• Relevant institutions handle backend transactions

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

To attract users, the platform even offers a 1% USDC cash back incentive. Paying with stablecoin can also earn you money, which directly challenges traditional payment channels.

This also demonstrates the platform's profound insights into Web3 user behaviors. Many stablecoin holders do not use credit cards or traditional payment tools but have assets to spend. The platform aims to convert them into buyers.

Retail Giants Follow Suit: Globally Renowned Companies Join the Race

The above-mentioned e-commerce platform took the lead, but more symbolically, global retail giants are also starting to take cryptocurrency payments seriously. Several mainstream media outlets have reported:

• The two largest retail companies in the world are exploring the issuance of their own stablecoins.
• Travel and airlines are also exploring encryption asset payments (to simplify cross-border travel settlements)

Why did traditional giants suddenly "go all out"?

• Reduce transaction costs: stablecoins bypass acquiring institutions, significantly reducing fees
• Accelerated settlement: reduced from several days to a few seconds
• Enhance customer retention: Users of encryption assets are more likely to support merchants compatible with their wallets.
• Bypass 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. No wonder everyone is eager to try.

The recent public criticism of stablecoins by global payment providers is not a coincidence - the pressure is real.

Cryptocurrency payments are not completely decentralized: "On-chain payments + off-chain settlements" is a compromise solution.

It is important to clarify that the payment of encryption assets in practice is not completely decentralized. Taking a certain e-commerce platform's implementation as an example, it adopts a typical "on-chain/off-chain hybrid" model:

• Users select USDC payment on the platform interface (through specific blockchain network transactions)
• The platform receives payments, and relevant institutions convert them into fiat currency (such as USD, EUR, JPY)
• Fiat currency is delivered through traditional banking channels.

Therefore, although stablecoins bypass traditional payment networks, 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, the relevant platforms have done their homework, and their implementation methods align with the current regulatory expectations in the United States for stablecoin compliance.

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 the high fees associated with traditional payment channels. Stablecoins provide a way to bypass intermediaries, reduce costs, and speed up cash flow.

2. Technology Stack Anxiety

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

• Automation
• No Borders
• Transparent

The new payment protocol can be directly integrated into the order system, making it much simpler than traditional payment SDKs.

3. User Anxiety

The user base of encrypted assets is growing rapidly, and they "have coins but nowhere to spend them". Supporting encrypted payments is a simple way to attract and retain this group. Additionally, it supports innovative reward mechanisms - cash back, NFT benefits, and gamified loyalty programs.

Summary

Can stablecoins reshape the global e-commerce payment landscape?

Check the current signal:

• Surge in payment volume: The monthly payment volume of stablecoins has increased from $2 billion two years ago to $6.3 billion, with the global total transaction volume exceeding $94 billion.
• The platform is taking active measures: a certain e-commerce platform has been launched, global retail giants are researching, and travel giants are also preparing.
• The trend is obvious: the acceptance of encryption assets is on the rise, cross-border trade requires efficient settlement, and traditional payment systems have become a bottleneck.

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