Coinbase developed a service for cryptocurrency payments for goods and services

With Coinbase Commerce merchants now have an ability to accept directly multiple cryptocurrencies
15 February 2018   316

Following a quiet test period, on February 14 Coinbase Commerce has become available for all merchants globally. The service monitors, validates and confirms user transactions on each blockchain of Bitcoin, Bitcoin Cash, Ethereum and Litecoin with the payments performed on-chain. Another key specifics is that Coinbase Commerce gives a full control over its own currency as the service is not hosted.

The access to the service is very simple: all a merchant needs to provide is his e-mail address and his phone number. Coinbase Commerce can be intergrated directly into checkout flow or added as another payment option on an e-comm platform. According to the announcement, the service is already integrated with Shopify, one of the largest multi-channel commerce platforms.

As for the current competitors of Coinbase Commerce, it’s the largest Bitcoin payment processor Bitpay. Bitpay has been the dominant player in the sector for a while.

As for the apperance, it will work as a PayPal plugin: once the customer reached the checkout page, one can view Coinbase Commerce button along with traditional PayPal and Credit Card. Upon clicking the Coinbase Commerce button, a new window pops up with the product cost and a crypto address to proceed the payment. QR code payment is also available.

Cryptsy-Coinbase Lawsuit to Head to Jury Trial

In the case a former Cryptsy client claims that Coinbase had to prevent Paul Vernon (CEO of Cryptsy) from laundering stolen money through a wallet at Coinbase
24 April 2018   73

The appeal court of the US state of Georgia approved the lower court's decision to reject the appeal of Coinbase on the suit, according to which the company is accused of not being able to prevent Cryptsy CEO from hiding with the money of his clients. This is reported by CoinDesk.

In the case, plaintiff Brandon Leidel, a former Cryptsy client, claims that Coinbase had to prevent Paul Vernon (CEO of Cryptsy) from laundering money through a wallet at Coinbase.

Vernon used Coinbase to launder millions of dollars he stole from his clients before the collapse of Cryptsy.

Coinbase tried to negotiate the suit in an arbitration court, pointing to the custom agreements that Vernon signed when he started using the purse of the exchange. However, last year the judge ruled that the clients of Cryptsy are not bound by the same agreements as Vernon, and therefore - in this case it is not necessary to make an arbitration award.

Coinbase appealed to this decision, but the district court rejected it.

Leidel does not seek to enforce the terms of the User Agreements, nor does he allege any tort rooted in an allegation that Defendant breached or facilitated a breach of any obligation uniquely imposed by those agreements. In other words, Leidel's claims are viable, if at all, without reference to the User Agreements, as the duties Defendant allegedly breached were not imposed by those agreements.

The Eleventh Circuit Court of Appeals

As a result, the case now turns into a jury trial in the form of a class action.

We are pleased, though not surprised, the appellate court affirmed the trial court's decision to keep this dispute in the public view ... We look forward to having Coinbase answer for its role in the millions of dollars in harm suffered by our clients; and we look forward to resolving these claims in court.

David Silver


Coinbase did not immediately respond to a request for comment of Coindesk.