Coinbase has announced a partnership with Stripe. The objective is to boost the global adoption of cryptocurrencies by leveraging each other’s strengths. Both will collectively work to provide an economical and faster financial infrastructure. Their partnership will benefit individuals and millions of businesses.
The partnership between Coinbase and Stripe entails three key integrations. The first integration involves Stripe adding USDC to Base for cryptocurrency payouts. This will help the platform make transfers to more than 150 countries, most economically and quickly. The second key integration is the addition of Base to fiat-to-crypto onramp. This will allow customers in the US to convert their fiat holdings into digital assets. Needless to say, the mechanism will maintain a high speed throughout the process.
The third integration will see Coinbase add the fiat-to-crypto onramp to its wallet so that users can buy digital assets using Apple Pay and credit cards.
Stripe has chosen to collaborate with Coinbase due to the reputation that Base has built over the years. Crypto is believed to be the future, and Base is leading the race to become the most used layer-2 solution. Plus, Coinbase does bring to the table the benefits of low cost, security, and developer-friendly transaction infrastructure.
Coinbase published a post with the update on X. Many members have started reacting to this update, calling it a huge move and adding that the partnership is elite and potentially changes the game for Coinbase.
The development for Stripe comes days after it introduced usage-based billing. Customers are charged based on how much they have used a product or service. Interested community members can test a live demo version of the offering. Stripe Sessions announced new revenue and finance automation tools, including this one. Others include App Store Connectors, Stackable Discounts, and Tax Overrides.
Coinbase, a crypto venture, has highlighted that the recently concluded Presidential Debate did not mention crypto despite more than 52 million Americans owning a piece of it. Coinbase is of the opinion that it is imperative to incorporate cryptocurrency into discussions.
The belief is probably rooted in the notion that crypto adoption will only increase in the United States and, as a result, globally once it is integrated into commonplace conversations. Additionally, crypto enthusiasts have been advocating for regulatory clarity for an extended period of time. A favorable development in that area will contribute to the expansion of digital assets.
A partnership between Coinbase and Stripe would benefit members. Stripe’s fiat-to-crypto onramp and crypto payouts now include USDC on Base. Coinbase was the first to incorporate Stripe’s fiat-to-crypto onramp into its Wallet offering. All three essential integrations anticipate a more robust foundation for future developments that the partnership undertakes.