Connect with us

Hi, what are you looking for?

Investing

Coinbase taps payment provider Stripe to facilitate USDC transactions on Base Network

Coinbase Company Logo On A Smartphone Screen

In a notable step in the cryptocurrency payment industry, Coinbase exchange has joined forces with Stripe to facilitate USD Coin (USDC) transactions on the Base network.

The Coinbase layer2 network Base will capitalize on Stripe’s capabilities to enable smooth cryptocurrency transactions.

Base is Coinbase’s layer2 blockchain that boasts a user-friendly environment for developers to build dApps.

Besides catering to Coinbase’s on-chain products, Base is an open-source network for external creators to build on.

According to Coinbase, the collaboration with Stripe aims to bolster on-chain adoption via three crucial features.

Firstly, they will add stablecoin USDC on the Base Network to facilitate Stripe cryptocurrency payment. That will promote smooth global money transfers.

The second step involves launching USDC via Stripe’s fiat-crypto on-ramp. That will enable users to convert traditional currencies into crypto using Base.

Lastly, Coinbase will onboard the payment provider’s on-ramp to allow Stripe users to buy digital assets using Apple or credit cards.

Meanwhile, the collaboration marks a significant milestone in promoting crypto accessibility by the masses.

Coinbase streamlines crypto purchases

With this partnership, the exchange will launch the payment provider’s on-ramp feature on the Coinbase wallet.

That will allow individuals to buy digital tokens seamlessly using Apple Pay or credit cards.

“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.”

Existing users will enjoy frictional services while new players experience reduced entry barriers.

The instant buy functionality through traditional payment platforms will propel adoption and engagement within the cryptocurrency marketplace.

Meanwhile, the alliance reflects Coinbase’s dedication to enhancing user experience in the digital assets industry.

Reduced transaction hurdles following Stripe’s integration will enable efficient international payments.

That marks a vital step as the crypto sector transitions into an integrated and user-friendly space, which will fuel mainstream adoption.

Coinbase stated that Stripe users will enjoy cheaper and quicker global money transfers.

Stripe’s strides in the crypto market

The Coinbase collaboration comes after Stripe resumed activity in the cryptocurrency payment market after a 6-year off.

Stripe joined the crypto space in 2014 before quitting in 2018 as Bitcoin’s massive volatility rendered crypto viable as a store of wealth and not a payment option.

The fintech company revealed plans to accept USDC payments on Polygon, Solana, and Ethereum networks in April.

The post Coinbase taps payment provider Stripe to facilitate USDC transactions on Base Network appeared first on Invezz

You May Also Like

Editor's Pick

In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

Editor's Pick

If you haven’t been following the “Twitter Files” saga, the gist of it is that the US federal government routinely pressured pre-Musk Twitter, and...

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....



Disclaimer: Questofprogress.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 Questofprogress.com