Encryption Asset Payment: A New Choice for E-commerce Giants

With the popularization of encryption assets, it is no longer limited to niche scenarios as a payment method, but is gradually being regarded as an important option for future payments by global retail giants.

Recently, a well-known e-commerce platform officially launched the USDC stablecoin payment feature, with the first batch of merchants already starting to test it, and full promotion is expected within the year. Meanwhile, several large retailers are reportedly exploring the issuance of their own stablecoins, and even travel and airline companies are researching encryption asset payment solutions.

What is driving this wave? What problems do stablecoins solve? Should traditional payment institutions be worried? This article will delve into the core reasons why e-commerce is embracing encryption assets, exploring whether this is just a temporary trend or an inevitable future trend.

The Long-term Payment Dilemma Faced by E-commerce

Payment has always been the invisible cost killer in the e-commerce industry. On major e-commerce platforms, every time a credit card or other third-party payment method is used, additional fees are incurred.

Mainstream credit cards typically charge a fee of 2-3%. This means that merchants pay an "invisible tax" for every item sold. Cross-border orders also face additional foreign exchange fees and settlement delays. Traditional payment methods have undoubtedly become a significant obstacle to the development of digital commerce.

In comparison, stablecoins offer some compelling advantages:

• Real-time settlement (on-chain transactions)
• Low transaction costs (no intermediary fees)
• Cross-border compatibility (no foreign exchange hassle)
• Programmability (integrable with logistics and fulfillment systems)

Therefore, it is not surprising that major e-commerce platforms are actively evaluating whether they can take control of this value chain.

A well-known e-commerce platform has taken the lead in launching stablecoin payments

Among many e-commerce platforms, a certain platform took the lead in taking action. By collaborating with a cryptocurrency exchange, the platform launched a USDC payment function based on the Ethereum Layer 2 network. Its operation is as follows:

• Customers pay on the chain using USDC
• Merchants receive fiat currency (automatically converted to USD, etc.)
• Relevant institutions handle backend conversion

For customers, the experience remains largely unchanged; for merchants, there is no need to have an in-depth understanding of encryption assets, and the entire process is automated. The key differences are lower fees and faster settlement speeds.

To attract users, the platform even offers a 1% USDC cash back incentive. Paying with stablecoins can also earn returns, which directly challenges the position of traditional payment channels.

This initiative also reflects the platform's deep insights into Web3 user behavior. Many stablecoin holders may not frequently use traditional payment methods, but they have disposable encryption assets at their disposal. The platform aims to convert this segment of users into active buyers.

Retail Giants Follow Suit: Exploring Proprietary Stablecoins

With a certain e-commerce platform taking the lead, it is more symbolic that global retail giants are also beginning to take encryption asset payments seriously. Several mainstream media outlets have reported:

• Many large retailers are exploring the issuance of their own stablecoins.
• Travel and airline companies are also researching encryption asset payment solutions to simplify cross-border travel settlements.

Why are traditional giants suddenly showing a keen interest in this?

• Reduce transaction costs: Stablecoins bypass acquirers, significantly reducing fees.
• Accelerated settlement: shortened from several days to a few seconds
• Improve customer retention: Users of encryption assets are more inclined to support merchants that are 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 faced for many years. No wonder major platforms are eager to try.

The recent public criticism of stablecoins by global payment providers is no coincidence—they are indeed feeling the pressure.

Encryption Asset Payment's Practical Model

It needs to be clear that the actual payment of encryption assets is not completely decentralized. Taking a certain e-commerce platform 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 US dollars, euros, yen)
• Fiat currency is delivered through traditional banking channels

Therefore, although stablecoins bypass traditional payment networks, the last mile still relies on the banking system. This is precisely the issue that regulators are closely monitoring: Do stablecoins evade compliance? Is the clearing process transparent? How are anti-money laundering and customer identity verification handled?

It is worth noting that the relevant platforms have made compliance preparations, and their implementation methods align with the current regulatory expectations for stablecoins in the United States.

The Three Major Reasons E-commerce Giants Bet on Stablecoins

Analyze core driving factors:

1. Cost Pressure

Merchants are tired of paying high third-party payment fees. Stablecoins offer a way to bypass intermediaries, reduce costs, and accelerate cash flow.

2. Technical Upgrade Requirements

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

• Automation
• Borderless
• transparent

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

3. User Base Expansion

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

Conclusion

Can stablecoins reshape the global e-commerce payment landscape? Let's pay attention to the current signals:

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

If Bitcoin is digital gold, then stablecoins are becoming digital dollars. Early-moving e-commerce players are laying the foundation for global payments in the next decade.