Leading cryptocurrency exchange Coinbase Global Inc. (NASDAQ: COIN) has made a decision to discontinue its support for Unspent Transaction Output (UTXO) and native Bitcoin from its merchant platform, Coinbase Commerce. For years, Coinbase Commerce has been a go-to choice for merchants interested in accepting payments in various cryptocurrencies, including Bitcoin. The platform has provided merchants with user-friendly tools such as hosted checkout, eCommerce options, payment buttons and invoicing via its API.

Coinbase head of product Lauren Dowling announced the decision on X on Feb. 18, 2024, noting that the move was prompted by difficulties faced while trying to integrate new updates into the…

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