According to Shopify and Coinbase, Shopify is enabling USDC payments via Coinbase's Base Ethereum layer-2 network for merchants worldwide, with a limited rollout on June 12 and full availability later this year. Merchants can accept on-chain USDC transactions and receive settlements in local currency without foreign fees, while a 1% cash back for customers will launch later, potentially boosting stablecoin adoption amid a 54% year-on-year growth in supply, as reported by the companies. This integration aims to reduce costs and increase transaction efficiency, which could drive higher demand for USDC and Ethereum-based networks.

According to @VitalikButerin, the launch of an Ethereum L2 by Soneium is a significant development for both businesses and users. The setup allows businesses to customize the level of control they maintain versus what they allow users to have. This flexibility in governance is fully transparent and auditable, making it a reliable option for stakeholders. Furthermore, systems can range from being fully closed to fully open, providing users with clear expectations and the ability to make informed decisions. Tools like @l2beat and independent auditors enhance the transparency further, which is crucial for traders assessing the risk and reliability of such platforms.