Coinbase and Stripe have formed a partnership to incorporate USD Coin (USDC) on the Base blockchain, hence improving Stripe’s cryptocurrency services.
The alliance seeks to enhance the efficiency and affordability of money transfers across more than 150 countries, while also offering a convenient method for converting traditional currency to crypto.
Stripe plans to incorporate USDC on Base into its crypto payout system, enhancing the speed and cost-effectiveness of international transfers.
Coinbase plans to include Stripe’s fiat-to-crypto service into Coinbase Wallet, enabling customers to purchase crypto instantaneously using credit cards and Apple Pay.
The cooperation seeks to connect conventional finance with the cryptocurrency realm, facilitating the widespread adoption of USDC on a global scale. USDC is renowned for its transparency and adherence to regulations, conducting monthly audits of its reserve assets.
According to Visa’s stablecoin measure, USDC has been the market leader since early 2024, accounting for 50% of all transactions. This move is a result of a challenging period associated with the banking crisis that occurred in the United States last year.
By integrating USDC on Base and incorporating it into Stripe’s payout system, the widespread use of USDC is anticipated to be enhanced, in line with the growing trend of stablecoin utilization in day-to-day transactions.
Given the increasing market presence of USDC, this project has the potential to establish new benchmarks in finance, hence promoting broader adoption and utilization of cryptocurrencies in day-to-day transactions.
Yesterday, Coinbase said it plans to incorporate Shiba Inu crypto for futures contracts trading. The exchange has submitted a formal document to the CFTC, indicating its intention to initiate trading in the near future, despite the current volatility.
