New Coinbase Business Platform Offers Crypto Payments and 4.1% APY

TLDR

• Coinbase has introduced a new business platform called Coinbase Business.
• The platform enables companies to accept cryptocurrency payments and manage digital assets.
• Businesses can earn up to 4.1 percent APY on USDC balances held in their accounts.
• The platform supports integrations with QuickBooks and Xero for easy accounting.
• Coinbase Business enables vendor payments and direct fiat conversions to bank accounts.

Coinbase has introduced a new business-focused platform that combines crypto payments, asset management, and yield generation into one service. The product, named Coinbase Business, enables small and medium-sized businesses to manage their financial operations using stablecoins. The company confirmed its rollout is expected later this year, with early access already underway.

Coinbase Launches Platform With USDC Yield

Coinbase Business enables companies to accept crypto payments and earn up to 4.1% APY on USDC balances held in their account. This service integrates with QuickBooks and Xero to simplify crypto accounting for business operations. Businesses can also directly link their accounts to crypto tax software, such as CoinTracker and CryptoTaxCalculator.

Moreover, the platform includes instant crypto settlements and supports multi-user access for team-based operations. Coinbase enables firms to pay vendors in crypto or convert funds to fiat through linked bank accounts. The company stated that most applicants can complete onboarding within two days using a self-service process.

Coinbase holds a significant stake in Circle, the issuer of USDC, and shares 50% of revenue from USDC reserve interest. Although Coinbase does not issue USDC, its agreement with Circle allows it to offer yield-based incentives. These incentives aim to increase USDC adoption and support its integration into daily business finance.

Yield Offering Expands as Crypto Firms Compete for Businesses

Coinbase Business is positioning itself against fintech competitors such as Mercury and Brex, who also offer yield-bearing business accounts. It also rivals crypto payment platforms like BitPay and OpenNode, expanding Coinbase’s role beyond a standard exchange. The company markets its product as a “crypto operating account” for complete financial operations.

In addition to USDC yields for businesses, Coinbase offers up to 4.7% APY on self-custodied USDC using Coinbase Wallet. This offer remains exclusive to retail users and is separate from the Coinbase Business platform. However, both offerings strengthen Coinbase’s presence in the stablecoin ecosystem.

According to Sid Coelho-Prabhu, Senior Director of Product Management, “Coinbase Business brings the speed and global reach of crypto to modern financial operations.” The company emphasized the platform’s ability to reduce high fees and speed up payments. Full public launch is scheduled for 2025, with alpha testing ongoing.

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