Coinbase Commerce will abandon support for Bitcoin and UTXO coins
The Coinbase Commerce gateway will stop supporting crypto assets whose blockchains run on the UTXO model. The solution is related to the integration of the Onchain Payment Protocol.
The Coinbase Commerce payment gateway will refuse to support bitcoin and a number of other coins whose blockchains operate on the basis of the UTXO model. This was stated by Lauren Dowling, head of the exchange's product department.
1/ Hey folks, I’m the product lead for Coinbase Commerce and want to share some thoughts on how the product is evolving, why we’ve made these changes, and clarify what it means for our asset support strategy moving forward. ?
— Lauren Dowling (@Lauren_Dowling_) February 17, 2024
Recall that Coinbase Commerce allows sellers to accept payments in crypto assets from buyers without prior authorization of the latter on the platform.
In November 2023, Coinbase updated this solution by integrating the On chain Payment Protocol. In particular, the service received support for "hundreds of tokens" from EVM-compatible networks.
According to Dowling, the update has brought many advantages to Coinbase Commerce, but the implementation of the same features in UTXO networks is difficult.
Source: https://incrypted.com/coinbase-commerce-otkazhetsja-ot-podderzhky-bytkoyna-y-utxo-monet/
