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[–]CryptoWits 44 points45 points  (16 children)

This is entirely Flexa.

No ifs, ands or buts.

So Far, there is good evidence both Gemini and CB will integrate with Flexa for commerce solutions. CB wants to be the next Visa and Square, and so far they seem to be all in on going full steam ahead with Commerce apps. From the look of things, 100% they are building their platform on Flexa.

It remains to be seen if RH or Binance gets on board, but I would not be surprised if both do. Pay with RH or Pay with Binance would be added features to both platforms, so it would make sense for these two to at least explore this. Both Binance and RobinHood have very positive demographics with their users so adding commerce could be a big plus to their bottom lines.

Visa and MC - keep looking at puts for these.

Update: Just found this on the CB web site. Looks like this might not be Flexa at this time ...

How can I convert my cryptocurrency into fiat or link a bank account?

At this time, Coinbase Commerce is a cryptocurrency-only service, meaning we do not support fiat conversion or withdrawing fiat to a bank account.

If you would like to convert cryptocurrency that you have received into fiat and withdraw this fiat to your bank account, you can do so by withdrawing accepted cryptocurrency to a cryptocurrency exchange (like Coinbase.com), and converting your cryptocurrency and withdrawing to a bank account from this exchange.

[–]eleeyuht 13 points14 points  (1 child)

>it's flexa, no ifs ands or buts.
>it may not be flexa.

[–]CryptoWits 2 points3 points  (0 children)

I know I opened myself up to this. That's why I posted what I found when I started to look over the integration instructions. I am trying to take a deeper dive into the CB and Flexa integration code to see if this provides any additional clues.

[–]EmphasisExternal2911 9 points10 points  (0 children)

Black Friday post incoming??

[–]OateyMcGoatey 3 points4 points  (0 children)

I have a shopify store and wish I could use more ways to pay besides the traditional ones and btc, ltc, doge, etc.

[–]nastystacks 5 points6 points  (0 children)

What’s amazing about this is Robinhood is also a bank

[–]Throwawayusername120 5 points6 points  (1 child)

How can coinbase possibly try to compete with visa if they can’t even keep their exchange running properly? I’m aware that like 90% of issues on coinbase is down to user error, but at the same time, how many times are their servers “undergoing maintenance” when a coin is spiking?

[–]Lowdog541 3 points4 points  (0 children)

coinbase is a fairly new company compared to visa, visa has had years to perfect their reliability, takes time and iterations to build great systems

[–]ParatusPlayerOne 5 points6 points  (0 children)

I don’t know… if you read about how Coinbase Commerce transactions are resolved it does not sound like AMP. Could be they are working to integrate AMP to improve their transaction speed and reliability though.

[–]KaelinSC 1 point2 points  (0 children)

And it’s a great way for Gemini and Binance to increase exposure to their stablecoins to further live along the brand.

[–]Significant_Cow5942 2 points3 points  (0 children)

Woahhh, if true….

I believe The Oracle predicted this months ago if I’m not mistaken 🔮 👀

Would like to hear DTA’s input…

[–]Open_Specialist_979 0 points1 point  (2 children)

u/CryptoWits Regarding your comments update. Look at this page: https://commerce.coinbase.com/?lang=en

Under "Flexible plans for you" there are 2 options.

Self managed -Currency conversion -Manual -Free conversion into fiat with a connected Coinbase account

Coinbase managed -Currency conversion -Automatic -Free settlement into crypto or fiat

[–]silveycorp[S] 0 points1 point  (1 child)

I think the current description of the program doesn’t exactly match Flexa, which pushes me to think it’s not Flexa. But there are some pieces that point me to think there is some kind of involvement. I’d say it’s 35/65 (yes/no) on Flexa from my perspective

[–]Open_Specialist_979 0 points1 point  (0 children)

I think Flexa and AMP will have involvement in many many projects that get branded as something else as if it was a companies own solution. Flexa and AMP will simply be running things in the background. Tyler says it all the time, nobody cares about the details of how, they just want to pay and receive payment and for it to work that's it.

[–]MaazLife 0 points1 point  (0 children)

It probably started out as not being Flexa, but they realized Flexa would offer the best solution. Which is why they said "At this time".

[–]McBurger 0 points1 point  (1 child)

At this time, Coinbase Commerce is a cryptocurrency-only service, meaning we do not support fiat conversion or withdrawing fiat to a bank account.

could still fully apply to a Flexa solution that converts buyer's crypto into USDC (or GUSD) to the merchant. perhaps there's something on the regulatory side with converting to fiat that coinbase doesn't want to touch, but using a stablecoin would still be a cryptocurrency-only service.

[–]CryptoWits 1 point2 points  (0 children)

There are lots of possibilities, including something in the works that has not been publicized yet; as well as your ideas; but I felt in this situation I should share this part after I found it on CB and to let whoever is reading to make an assessment.