Stripe and Coinbase have joined forces to expand the global adoption of cryptocurrency and enhance financial infrastructure. This collaboration aims to serve businesses and individuals worldwide, according to a blog post by Coinbase.
USDC Integration
As part of this partnership, Stripe will incorporate USDC (USD Coin) on Base into its crypto payouts product. This integration enables Stripe platforms to make faster and cheaper money transfers to more than 150 countries. Additionally, Stripe will add USDC on Base to its fiat-to-crypto onramp, allowing customers in the U.S. to make faster fiat-to-crypto conversions.
Coinbase Wallet Integration
In another key integration, Coinbase will add Stripe’s fiat-to-crypto onramp to Coinbase Wallet. This enhancement enables instant purchases of crypto using credit cards and Apple Pay.
“By adding support for Base, Stripe’s vast global network of users will have access to faster and cheaper money transfers,” the post stated. “Base has quickly become the most used L2 due to its secure, low-cost, and developer-friendly transaction infrastructure, as we continue to make strides towards our one-second, sub-one-cent goal.”
Stripe had previously stopped crypto payments in 2018 but announced in April that it would bring them back this summer. The company cited technical improvements in crypto, increased transaction speeds, lower fees, and the growing utility of stablecoins as reasons for the return.
The adoption of crypto as a mainstream payment mechanism remains a top priority for businesses and merchants across various industries. As the digital asset trading landscape matures, Coinbase continues to diversify its revenue sources beyond trading fees.
Jude Blair is a blockchain news writer at Crypto Quill, with a passion for unraveling the intricacies of distributed ledger technology and its impact on the digital landscape. With a sharp focus on blockchain innovations and industry trends, Jude’s articles offer readers comprehensive insights into the evolving world of cryptocurrencies. Known for his analytical prowess and dedication to factual reporting, Jude brings a fresh perspective to blockchain news, delivering timely and engaging content that educates and empowers audiences.