Coinbase Joins Hands with Stripe to Onboard USDC on Base Network

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As a seasoned crypto investor with a keen interest in the latest developments within the space, I’m thrilled to see Coinbase making such significant strides in partnerships and regulatory advocacy. The collaboration between Coinbase and Stripe is particularly noteworthy, as it brings USDC stablecoin to a wider audience through Stripe’s extensive network of merchants. This integration will undoubtedly lead to faster cross-border remittances and easier customer onboarding for crypto purchases.

As a financial analyst, I’d rephrase it as follows: On June 27, 2023, I’m pleased to announce that Coinbase and Stripe have formed a partnership. The collaboration aims to integrate the USDC stablecoin into Stripe’s crypto payouts on the Base Network. This means merchants using Stripe can now receive payments in the form of USDC, providing them with more flexibility and control over their digital assets.

As a researcher studying the digital finance sector, I’m excited to share that Coinbase’s integration of USDC stablecoin onto its Layer-2 platform Base is expected to significantly enhance cross-border remittances and settlements for approximately 150 fiat currencies. Moreover, this addition will extend to Stripe’s fiat-to-crypto on-ramp, making customer onboarding more seamless and enabling swift conversion of fiat into digital assets.

As an analyst, I’d put it this way: Under the new collaboration, Coinbase is set to incorporate Stripe’s fiat-to-crypto on-ramp into its platform. This integration will enable Coinbase users to effortlessly buy cryptocurrencies using credit cards and Apple Pay.

John Collison, Stripe’s co-founder and president, revealed at this year’s Sessions conference that Stripe would be bringing back stablecoins to its platform in the near future. Previously, Stripe had been one of the pioneers in offering Bitcoin transactions as part of its services way back in 2014; however, they eventually stopped supporting it.

This summer, Stripe intends to roll out merchant payments using the USDC stablecoin in addition. According to Coinspeaker, Stripe’s checkout platform will support USDC transactions, which will be converted to fiat currency upon settlement. The initial processing of these transactions will take place through Ethereum, Solana, and Polygon blockchain networks.

As an analyst, I’d put it this way: I’m pleased to share that Stripe has recently integrated with the Avalanche blockchain. This means that Stripe now supports the Avalanche C-Chain, enabling retail users to effortlessly buy AVAX tokens without having to deal with the intricacies of crypto exchanges.

Coinbase Makes a Big Push in Crypto

Expert: Coinbase, a leading cryptocurrency exchange, is taking assertive actions within the crypto industry by engaging in open disputes with top regulatory bodies such as the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC). On June 27, 2023, Coinbase filed a lawsuit against both institutions for their refusal to adhere to the Freedom of Information Act (FOIA), which requires the full or partial disclosure of previously classified information.

The lawsuit centered around the SEC’s choice to leave Ether (ETH) off its roster of unregistered securities, a roster which included Ripple‘s XRP. The court examined the regulatory body’s reasoning behind this exclusion.

The launch of the exchange also marked the initiation of the “Stand with Crypto” political action committee (PAC) in the US, aimed at championing the crypto industry and its stakeholders. In June, the PAC reportedly collected over a million signatures from supporters of the digital currency sector.

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2024-06-28 10:10