Coinbase drops native Bitcoin payments from merchants’ platform

Coinbase has removed support for native Bitcoin and other UTXO coins from its payment platform for merchants, Coinbase Commerce.

Coinbase has removed support for native Bitcoin and other UTXO coins from its payment platform for merchants, according to the company's head of product, Lauren Dowling.

In a Feb. 18 thread on X (formerly Twitter), Dowling said the company “made the difficult decision to remove native Bitcoin & other UTXO support” from Coinbase Commerce, citing difficulties in delivering recent updates on its EVM payment protocol for Bitcoin.

Shoppers paying with Coinbase Commerce will still be able to use Bitcoin if they have an account with the exchange, noted its CEO Brian Armstrong on X, adding that the company is in the process of integrating the Lightning Network into Coinbase.

“Hopefully there are opportunities to make commerce payments with Lightning in the future,” commented Armstrong. The Lightning Network is a payment protocol designed to facilitate transactions within the Bitcoin blockchain. Bitcoin transactions have been running on the protocol since 2017.

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Feb-19-2024 08:36:23 AM