One of the largest crypto companies in the world is partnering up with one of the largest payment companies in the world to make digital assets more accessible.
What’s happening:
- Coinbase (NASDAQ: COIN) has announced a new partnership with payment giant Stripe to expand the accessibility of digital assets and enable seamless cross border payments
How it works:
- Stripe will integrate Coinbase’s layer two blockchain Base into their payment features, enabling users to leverage popular stablecoin USDC on the Base blockchain to make cross border payments with low transaction fees
- Coinbase will integrate Stripe as a payment feature on their digital asset exchange, which will allow users new optionality for rapidly converting fiat into crypto
Why it matters:
- Leveraging digital assets for payments has been a growing trend, with PayPal previously launching their very own stablecoin and recently forming a new partnership with Solana
Going deeper:
- Stripe had previously distanced themselves from crypto completely, which recently changed when they launched a new feature which gives users the ability to make payments through stablecoin USDC
