Stripe and Coinbase Unite to Integrate Crypto into Global Financial Services
AinvestSaturday, Jun 29, 2024 10:48 pm ET
1min readCoinbase and Stripe have partnered to introduce crypto into global finance with key integrations. Stripe adds USDC on Base for faster, cheaper transfers and fiat-to-crypto conversions. Base has surpassed $8 billion in total value locked, leading Ethereum layer 2s in transactions per second. Coinbase integrates Stripe's onramp into its wallet, allowing users to convert fiat to crypto quickly. Base's growth is attributed to its security, cost-effectiveness, and developer-friendly environment, making it a significant player in the crypto landscape.
In a groundbreaking move to introduce cryptocurrency into the global financial ecosystem, Coinbase and Stripe have recently announced a strategic partnership. This collaboration aims to provide faster, cheaper financial infrastructure and increase onchain adoption for businesses and individuals worldwide [1].
Stripe, a leading global payment processing platform, will integrate USDC on Base into their crypto product suite. This integration enables Stripe platforms to make faster and cheaper money transfers to over 150 countries [1]. Furthermore, Stripe will add USDC on Base to their fiat-to-crypto onramp, allowing customers in the US to convert fiat to crypto at a faster rate [1].
Meanwhile, Coinbase, a prominent cryptocurrency exchange, will add Stripe's fiat-to-crypto onramp into its wallet. This integration allows users to buy crypto instantly using credit cards and Apple Pay [1]. Coinbase's decision to integrate Stripe's onramp is a testament to the exchange's commitment to providing a seamless and accessible crypto buying experience for its users.
Base, the layer 2 network behind Coinbase, has already gained significant traction in the crypto landscape due to its secure, low-cost, and developer-friendly transaction infrastructure. With over $8 billion in total value locked and leading Ethereum layer 2s in transactions per second, Base is rapidly becoming a significant player in the crypto world [1].
The partnership between Coinbase and Stripe represents a significant step forward in the global adoption of cryptocurrency as a mainstream form of payment and financial infrastructure. As the two companies continue to collaborate, they aim to build a better payments future for users around the world.
References:
[1] Coinbase. (2024, June 27). Coinbase and Stripe Team Up to Increase Global Adoption of Crypto. Retrieved from https://www.coinbase.com/blog/coinbase-stripe-team-up-to-increase-global-adoption-of-crypto
[2] PYMNTS.com. (2024, July 1). Stripe and Coinbase Integrate Crypto Services. Retrieved from https://www.pymnts.com/cryptocurrency/2024/stripe-and-coinbase-integrate-crypto-services/
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