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Coinbase collaborated with Compass Coffee, a coffee chain based in Washington DC, to facilitate USDC payments at its establishments.
To promote the integration of cryptocurrencies into daily transactions, Coinbase, a well-known crypto exchange, has taken action. Partnering with Compass Coffee, a notable veteran-owned coffee chain headquartered in Washington D.C., Coinbase aims to utilize the USD Coin (USDC) stablecoin for transactions within the coffee chain.
Collaboration Between Coinbase and Compass Coffee
The partnership between Coinbase and Compass Coffee aims to familiarize customers with the benefits of cryptocurrency payments. Spearheaded by Compass Coffee’s Half Street store, customers now have the option to pay for their coffee purchases using USDC, as reported by FOX Business.
This move signifies a significant stride towards the mainstream acceptance of digital currencies, offering consumers a practical opportunity to utilize crypto assets in their everyday transactions.
To incentivize USDC payment adoption, the Half Street store is offering customers who choose this option an enticing 90% discount on their orders.
Additionally, they have the opportunity to acquire a Non-fungible Token (NFT) that can be redeemed for a complimentary tin of coffee featuring the logos of both Coinbase and Compass Coffee.
Moreover, this initiative mirrors the increasing trend of businesses embracing cryptocurrencies as a viable payment method, especially in light of recent developments such as the introduction of Spot Bitcoin ETFs on Wall Street. 
By embracing USDC, a stablecoin issued by Circle in which Coinbase holds a minority stake, Compass Coffee is setting an example for other small businesses to integrate stablecoin payments into their operations.
The Goal of the Partnership
According to Coinbase, the collaboration with Compass Coffee not only aims to facilitate crypto transactions but also to challenge the perception of cryptocurrencies solely as speculative investments. Coinbase seeks to showcase crypto’s potential to revolutionize the traditional financial system.
To achieve this, the crypto exchange highlights the advantages of blockchain technology, such as lower transaction fees and quicker processing times.
In alignment with this objective, the coffee cups at the Half Street store carry a compelling message emphasizing the significant savings possible through blockchain technology for transactions.
These Compass Coffee cups state, “$126 billion in estimated credit card transaction fees paid in 2022 by U.S. merchants. 2.5X the entire U.S. coffee shop market. Over 99% of this could have been saved by using blockchain technology.”
As the partnership between Coinbase and Compass Coffee evolves, it is set to stimulate further discussions about the role of cryptocurrencies in everyday commerce.
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