Encryption asset payments have become the new favorite of e-commerce giants.

As cryptocurrency payments gradually move towards the mainstream, global retail giants are increasingly viewing it as an important component of future payment methods. Recently, several large e-commerce platforms and retailers have been actively exploring the possibility of stablecoin payments, a trend that has garnered widespread attention in the industry.

E-commerce Platforms Embrace Stablecoin Payments

A well-known e-commerce platform has officially launched the USDC stablecoin payment feature, with the first batch of merchants starting testing on June 12, and a full rollout is expected within the year. Meanwhile, industry rumors suggest that other large retailers are also considering issuing their own stablecoins, and even some travel and airline companies are researching the possibility of encryption asset payments.

Behind this wave of enthusiasm is the payment pain point that e-commerce platforms have faced for many years. Traditional payment methods such as credit cards and third-party payment platforms usually charge a fee of 2-3%, which is a significant expense for e-commerce businesses that already have thin profit margins. Cross-border orders further involve issues such as foreign exchange fees and settlement delays.

In contrast, stablecoin payments offer several significant advantages:

1. Real-time settlement: Transactions can be completed instantly on the chain.
2. Low transaction costs: No need to pay high intermediary fees.
3. Cross-border compatibility: avoids complex foreign exchange conversions.
4. Programmability: Seamless integration with logistics and fulfillment systems.

Practical Applications of Stablecoin Payments

A certain e-commerce platform has taken the lead in launching a stablecoin payment feature that uses USDC payments based on the Ethereum Layer 2 network. Its operation method is as follows:

• Customers make payments on-chain using USDC
• Merchants receive fiat currency (automatically converted to USD, etc.)
• The backend is handled by professional institutions for conversion and settlement.

For customers, the payment experience remains largely unchanged; for merchants, there is no need to have an in-depth understanding of encryption assets, as the entire process is automated. The key point is that this payment method can significantly reduce costs and speed up settlement.

To attract users to use the new payment method, the platform even offers a 1% USDC cash back incentive. This move directly challenges the status of traditional payment channels.

Retail Giants Follow Up on Layout

In addition to e-commerce platforms, global retail giants are also beginning to take encryption asset payments seriously. According to reports, several large retailers are exploring the issuance of their own stablecoins, which is similar to the digital currency projects attempted by early social media giants. At the same time, some travel and airline companies are also studying how to apply encryption asset payments to cross-border travel settlements.

The reason traditional giants have suddenly developed a strong interest in stablecoin payments is mainly based on the following considerations:

• Reduce transaction costs: Bypass traditional acquiring institutions and significantly reduce payment fees.
• Accelerate the settlement process: shorten from days to seconds
• Enhance customer stickiness: Attract and retain the encryption asset user base
• Simplify cross-border payments: avoid the delays and complexities of traditional bank transfers.

The Real Challenges of Encryption Asset Payments

Although stablecoin payments have many advantages, they still face some challenges in practical applications. Taking the implementation of a certain e-commerce platform as an example, it adopted a "on-chain payment + off-chain settlement" hybrid model:

1. Users select USDC payment on the platform interface (transactions completed through the blockchain network)
2. After the platform receives the payment, it will be converted into fiat currency by a professional institution.
3. Finally, deliver the fiat currency to the merchants through traditional banking channels.

This model, while avoiding traditional payment card networks, still ultimately relies on the banking system. This is also a focal point of close scrutiny by regulators: Do stablecoins evade compliance requirements? Is the clearing process sufficiently transparent? How are issues such as anti-money laundering and customer identity verification handled?

Fortunately, there are platforms that have fully considered these issues during the implementation process, and their solutions generally meet the current regulatory expectations of the United States for stablecoin compliance.

The Deep Reasons Behind E-commerce Giants Betting on Stablecoins

The enthusiasm of the e-commerce industry for stablecoin payments mainly stems from three major considerations:

1. Cost pressure: Merchants hope to reduce transaction fees and accelerate cash flow turnover through stablecoin payments.

2. Technical Upgrade: Compared to traditional payment systems, blockchain-based payment infrastructure offers advantages such as automation, borderless transactions, and high transparency, which can better meet the technical needs of e-commerce platforms.

3. User Demand: The user base for encryption assets is growing rapidly, and supporting encryption payments helps attract and retain this segment of customers. At the same time, stablecoin payments can support more innovative reward mechanisms, such as cash back, digital collectible benefits, and more.

The Future Outlook of Stablecoin Payments

Can stablecoins reshape the global e-commerce payment landscape? From the current development trends, this possibility is gradually increasing:

• Surge in payment scale: The monthly payment volume of stablecoins has increased from 2 billion USD two years ago to 6.3 billion USD, with a total global transaction volume exceeding 94 billion USD.
• Mainstream platform layout: In addition to the e-commerce platforms that have launched services, other retail giants are also actively researching and laying out.
• Industry trends are evident: the acceptance of encryption assets continues to rise, the demand for efficient settlement in cross-border trade is growing increasingly, while the limitations of traditional payment systems in these areas are becoming more pronounced.

If Bitcoin is seen as digital gold, then stablecoins are becoming strong competitors to the digital dollar. E-commerce players who are first to lay the groundwork are likely establishing a foundation for the global payment landscape of the next decade. With the continuous improvement of technology and the gradual clarification of the regulatory environment, stablecoin payments are expected to play an increasingly important role in the e-commerce sector.