Shopify beat Q2 estimates with $3.58B in revenue and guided Q3 growth above consensus. The company's USDC payment integration through Coinbase and Stripe treats stablecoins like credit cards.
Shopify beat Q2 estimates with $3.58 billion in revenue and guided Q3 growth above analyst expectations, sending shares up as much as 33.8% in premarket trading. The e-commerce platform projected low-thirties percentage revenue growth year-over-year for the third quarter. Wall Street consensus had called for roughly 21.5%.
Gross Merchandise Volume hit $115.51 billion for the quarter. CEO Tobi Lütke pointed to two growth drivers: AI-powered merchant tools and international expansion.
While the earnings release did not break out crypto payment metrics, Shopify has been building stablecoin acceptance into its core payments rails. The company partnered with Coinbase and Stripe in June 2025 to enable USDC payments on the Base network directly through Shopify Payments. Merchants toggle the option on without third-party gateways or developer work.
That integration treats stablecoins like any other payment method alongside credit cards and Apple Pay. Previous crypto acceptance required merchants to route through separate gateways like BitPay or Crypto.com, which added friction.
For crypto-focused investors, the stablecoin push matters beyond Shopify's stock price. Each merchant activating USDC creates another real-world commerce use case for stablecoins. Coinbase and Stripe both benefit from additional transaction volume through these rails. Circle, the USDC issuer, gains further validation of its stablecoin as a settlement layer for mainstream business.
Shopify shares traded at $94.17 in premarket action, up from Wednesday's close of $70.39.
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