Leading US-based crypto exchange Coinbase is teaming up with a top crypto payments provider to increase crypto functionality.
Coinbase, a leading US-based crypto exchange, is joining forces with Stripe, a top crypto payments provider, in a move to increase the functionality of crypto.
In a new announcement on Thursday, Coinbase says it is partnering with Stripe to increase the adoption of crypto by consumers around the world.
The partnership will see Stripe add support for Coinbase’s Base layer-2 blockchain to its crypto product suite, enabling users to make faster and cheaper money transfers. Additionally, Stripe will be integrating USDC on Base into its fiat-to-crypto onramp, allowing customers in the United States to convert fiat to crypto faster than ever before.
On the other hand, Coinbase will be adding Stripe’s fiat-to-crypto onramp to Coinbase Wallet, enabling users to buy crypto instantly with credit cards and Apple Pay. According to a press release, the partnership will also increase access to crypto payments for businesses worldwide.
The partnership launches with three key integrations designed to increase onchain adoption and provide faster, cheaper financial infrastructure:
“Stripe is adding USDC on Base to their crypto payouts product to enable Stripe platforms to make faster, cheaper money transfers to over 150 countries.
Stripe is adding USDC on Base to their fiat-to-crypto onramp to enable customers in the US to convert fiat to crypto faster than ever.
Coinbase is adding Stripe’s fiat-to-crypto onramp to Coinbase Wallet to allow people to buy crypto instantly with credit cards and Apple Pay.”
With Stripe adding support for Base, customers using the Ethereum (ETH) layer-2 blockchain should have faster and cheaper transactions, as highlighted in the announcement.
In related news, April of this year saw Stripe announce plans to roll out global USDC payments more than six years after the company ended Bitcoin (BTC) support.
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