Digital asset exchange, Coinbase has announced a partnership with payment firm Stripe to expand on-chain adoption and faster services. The partnership will see both firms add support for their financial infrastructure on their respective platforms. Crypto adoption continues to grow with firms striking multi-level partnerships to scale solutions.
Coinbase Taps Stripe On Crypto Adoption
In a June 27 press release, Coinbase disclosed the partnership that will see integrations in both platforms. According to the statement, the move will increase web3 adoption and integrate faster and less expensive systems.
“Stripe and Coinbase have announced a partnership to increase on-chain adoption and provide faster, cheaper financial infrastructure. Stripe will add support for Base across its crypto product suite to offer users faster and cheaper money transfers, and Coinbase will add Stripe’s fiat-to-crypto on-ramp into Coinbase Wallet to allow users to buy crypto instantly with Credit cards and Apple Pay.”
Three main areas to improve business development globally include Stripe onboarding USDC on Base. This move allows Stripe to perform faster and cheaper transactions across 150 countries. The firm will also add USDC on Base to the fiat-to-crypto onramp for US customers to convert fiat to crypto faster. Similarly, Coinbase will integrate Stripe’s fiat to crypto on Coinbase Wallet to usher in easy Apple Pay and credit card payments.
Several crypto users have lauded the partnership on social media spaces terming it a win-win scenario for both firms.
Stripe to Leverage on Base Solutions
Base has become a popular layer2 solution as a result of its low transaction fees and fast speed compared to competitors. Stripe’s users will have access to the developer-friendly infrastructure with all its benefits.
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 integrations lay a strong foundation for Stripe and Coinbase to begin building better payment futures for users around the world,” the statement read.
Also Read: Wall Street Embraces Altcoins with New Solana ETF: Pompliano
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David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
