Coinbase, a major crypto exchange, and Stripe, a leading payment firm, have formed a partnership.
Under the agreement, Stripe will integrate Coinbase’s Layer 2 network, Base, into its crypto payout products. In return, Coinbase will enable its customers to purchase crypto using credit cards or Apple Pay through the Coinbase Wallet, incorporating Stripe as a payment option.
Moreover, Coinbase users will gain access to USDC via Base on Stripe, facilitating fiat-to-crypto conversions and international money transfers to over 150 countries. According to a recent Coinbase release, these integrations aim to enhance user experience by reducing barriers and costs associated with traditional finance.
“Crypto represents the future of money due to its borderless nature and ability to operate outside traditional banking hours, minimizing friction and fees for users,” Coinbase stated.
Base, which currently holds $1.57 billion in total value locked according to DeFiLlama, launched its mainnet to the public on August 9, 2023. This collaboration sets a robust foundation for both Stripe and Coinbase to innovate in the global payments landscape.
