Key Takeaways:
- Coinbase and Stripe are partnering to simplify fiat-to-crypto transactions, introducing USD Coin (USDC) support on Coinbase’s layer-2 network, Base.
- Stripe will integrate USDC for faster cross-border remittances and enhance its fiat-to-crypto on-ramp, while Coinbase will incorporate Stripe’s on-ramp for crypto purchases via credit cards and Apple Pay.
- Coinbase has filed lawsuits against the SEC and FDIC for information under the Freedom of Information Act and launched the “Stand with Crypto” PAC to rally community support.
Coinbase and Stripe have announced a partnership to facilitate easier fiat-to-crypto transactions.
This integration will introduce support for USD Coin (USDC) on Coinbase’s layer-2 network, Base, enhancing Stripe’s crypto payouts for faster cross-border remittances across 150 countries.
Coinbase 🤝 Stripe
— Coinbase 🛡️ (@coinbase) June 27, 2024
Coinbase is partnering with @stripe to bring @base's faster, cheaper financial infrastructure to millions of businesses around the world.
Here’s what we’re doing ↓ pic.twitter.com/OwNOFqFbFB
USDC will also be part of Stripe’s fiat-to-crypto on-ramp, simplifying the conversion of fiat to digital assets for users.
Conversely, Coinbase will incorporate Stripe’s on-ramp to allow crypto purchases via credit cards and Apple Pay.
Earlier this year, Stripe had announced plans to reintroduce stablecoins, fulfilling this promise with the new integrations.
Crypto is back. @Stripe will start supporting global stablecoin payments this summer. Transactions instantly settle on-chain and automatically convert to fiat. Join the waitlist https://t.co/hws2OsU3Id and watch the demo (h/t @Solana) from Sessions. pic.twitter.com/zGKYW2FM6i
— John Collison (@collision) April 25, 2024
Stripe initially supported Bitcoin in 2014 but removed it due to inefficiencies at the time.
Recently, Stripe also began supporting AVAX tokens for verified customers.
In the regulatory sphere, Coinbase has filed lawsuits against the SEC and FDIC, accusing them of not providing necessary information under the Freedom of Information Act (FOIA).
Will Stripe and Coinbase's Partnership Boost Global Adoption of Crypto?
— The Wolf Of All Streets (@scottmelker) June 27, 2024
Coinbase and Stripe have announced a partnership aimed at enhancing global crypto adoption through three main integrations.
Firstly, Stripe will incorporate USDC on Base into its crypto payouts product,… pic.twitter.com/0Si6oauXNV
This relates to the SEC’s classification of Ether (ETH) and other cryptocurrencies.
Additionally, Coinbase has launched the “Stand with Crypto” PAC, gaining significant support from the crypto community.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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