Coinbase and Stripe Team Up for Faster, Cheaper Global Crypto Transactions

• Stripe adds USDC on Base for quicker, cheaper payouts to 150+ countries, streamlining global crypto transactions.
• Coinbase integrates Stripe’s fiat-to-crypto onramp in Coinbase Wallet for instant crypto purchases with cards and Apple Pay.
• Partnership aims to enhance global financial infrastructure with secure, low-cost transactions, boosting crypto adoption.

Coinbase has announced a partnership with Stripe. This collaboration aims to provide faster and cheaper financial infrastructure to millions of businesses worldwide, enhancing the efficiency of money transfers and payouts through three key integrations.

Key Integration: USDC on Base for Crypto Payouts

The first major integration involves Stripe adding USDC on Base to its crypto payouts product. This enables Stripe platforms to facilitate faster and cheaper money transfers to over 150 countries. Businesses can use this integration to make payments in crypto, specifically USDC, without managing the cryptocurrency themselves. Stripe handles the conversion from fiat to crypto, ensuring the funds remain in fiat until the payout. This integration is set to streamline international payments, making them quicker and more cost-effective.

Fiat-to-Crypto Onramp with USDC on Base

The second integration sees Stripe adding USDC on Base to its fiat-to-crypto onramp. This will allow customers in the U.S. to turn fiat into cryptocurrency at a rate much faster than previously possible. It is an on-ramp that is fully customizable, permitting integration with multiple platforms or apps, which makes it possible for customers to purchase crypto safely at checkout. Stripe has agreed to take on the role of Merchant of Record for these transactions, thus being held liable for fraud and disputes, regulatory requirements, and identity verifications. This ensures safety and efficiency for both business and customers.

Coinbase Wallet Integrates Stripe’s Onramp

The third integration enables Coinbase to add Stripe’s fiat-to-crypto onramp to Coinbase Wallet. This will allow users to acquire cryptocurrency instantly using credit cards and Apple Pay. Integrating Stripe’s onramp, Coinbase Wallet users will access frictionless and fast buying of cryptocurrencies, further simplifying the process of purchasing crypto and making it available for many people.

Powered by Base’s secure, low cost, and developer-friendly transaction infrastructure, Stripe’s global network of users will benefit from enhanced money transfer capabilities bringing them one step closer to the goal of one-second, sub-one-cent transactions.