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Coinbase Commerce Partners With Chainalysis for Crypto Payments

The blockchain analytics platform Chainalysis last Monday, June 12, announced the integration of the crypto-payment platform Coinbase Commerce.

Coinbase Commerce Partners With Chainalysis for Crypto Payments

As a result of the implementation of this solution, users of the blockchain analytics platform will be able to make payments through the use of digital assets, including DeFi tokens. Also, the integration of Coinbase Commerce will reduce the impact of traditional barriers and friction that are associated with fiat transactions.

Rakib Azad, senior vice president of finance at Chainalysis, stated that the company recognizes the unique needs of DeFi participants and supports their activities by accepting a wide range of digital assets. He also noted that the integration of the crypto-payment platform is evidence of the firm’s commitment to growth and innovation in the DeFi industry.

This decision is of particular importance for those who work in decentralized networks and rely on cryptocurrency when carrying out financial activities.

Will Robinson, Coinbase’s vice president of engineering, said that Chainalysis customers can use digital currency to pay for a wide range of cryptography-related services. Separately, he stressed that in this case, optimization of operations is provided.

As a result of the integration of Coinbase Commerce, consumers will be able to pay with the help of a growing number of cryptocurrencies. This circumstance simplifies participation in the DeFi ecosystem. The integration of crypto payments is an achievement that is part of a consistent effort to use digital assets as a means of payment.

Robinson believes that cryptocurrency has the potential to create economic freedom for every person and business. He called the cooperation with Chainalysis another step toward the implementation of this concept.

At the beginning of this year, Pratima Arora, Director of Chainalysis products, speaking on the topic of crypto payments, said that the current moment in the development of the industry is an opportunity, to sum up, the practical implementation of the values of those who promote the new generation currency, and make efforts to create a safer and more efficient ecosystem. At the same time, she stated that currently there is a significant level of demand for new ownership models in the global economic system.

Arora described cryptocurrency as a cross-border, instant, and financially accessible way to exchange values. She also expressed confidence that the demand for a new generation of currency in the future will only show growth. According to her, the conditions observed in 2023 form an environment suitable for changes in crypto technologies.

As we have reported earlier, B2B BNPL Provider Hokodo Acquires European Payments License.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.