Coinbase partners with payments firm Stripe
Quick Take
- The partnership means Stripe will incorporate Coinbase’s Layer 2 network Base into its crypto payout products.
- In addition, users can use Stripe’s fiat-to-crypto onramp to buy digital assets with credit cards or Apple Pay inside the Coinbase Wallet.
The crypto exchange giant Coinbase and payment firm Stripe have penned a partnership.
Stripe will incorporate Coinbase's Layer 2 network Base into its crypto payout products, and Coinbase will add Stripe as a way for its customers to buy crypto with credit cards or Apple Pay inside the Coinbase Wallet, according to a Coinbase release published Thursday.
Additionally, Coinbase customers will be able to use the stablecoin USDC via Base on Stripe to streamline fiat-to-crypto conversions and facilitate money transfers to over 150 nations, the release continues.
"Crypto is the future of money because it is unrestricted by international borders or banking hours, and reduces both friction and fees for users. These three key integrations lay a strong foundation for Stripe and Coinbase to begin building a better payments future for users around the world," Coinbase wrote in a statement.
Base maintains $1.57 billion in total value locked, according to the crypto data tracker DeFiLlama. The Layer 2's mainnet officially opened to the public on Aug. 9, 2023.
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