Coinbase: new partnership with Stripe to bring Base to millions of companies

Coinbase and Stripe have formed a new partnership aimed at bringing Base to millions of businesses. Among the various new features, the payment processor Stripe adds support for USDC on Base. 

Coinbase and Stripe: the new partnership to bring Base into onboarding

Coinbase has announced its new partnership with the payment processor Stripe, with the goal of bringing Base into onboarding.

Coinbase Stripe

Coinbase is partnering with @stripe to bring @base's faster, cheaper financial infrastructure to millions of businesses around the world.

Here’s what we’re doing ↓ pic.twitter.com/OwNOFqFbFB

— Coinbase (@coinbase) June 27, 2024

“Coinbase collaborates with @stripe to bring @base to millions of businesses around the world. Here’s what we are doing..”

In its series of tweets, Coinbase explains that the common goal with Stripe is to improve the financial system.

In practice, as a first objective, Stripe adds support for Base, the layer-2 blockchain of Coinbase. Specifically, the partnership includes three key integrations.

The first is the addition of support for USD Coin (USDC) on Base as part of Stripe’s crypto payments, allowing faster cross-border remittances and fiat equivalent settlements in 150 sovereign countries.

Following, the addition of USDC on Stripe will also be available as part of the payment processor’s on-ramp, from fiat to crypto, facilitating onboarding for customers converting fiat into digital assets.

On the other hand, Coinbase is adding Stripe to the fiat-to-crypto conversion portal of Coinbase Wallet. This way, people can purchase cryptocurrencies instantly with credit cards and Apple Pay.

Coinbase and Stripe: the onboarding partnership but also for developers

Another peculiarity of the new partnership signed by Coinbase and Stripe is also aimed at builders and developers. 

In fact, at stake is il Base Buildathon, which allows them to discover how to leverage Stripe’s features for cryptocurrencies on Base. 

Not only that, this June, Stripe has also committed to being a sponsor of the ‘Onchain Summer Buildathon’ by Coinbase. 

“@stripe sponsors the payment track of @coinbase Onchain Summer. From May 31 to June 30, build a payment experience for consumers and show us how easy it is for anyone to get on onchain.”

The first crypto brand in the ranking to be used as a scam

Recently, Coinbase has made headlines for being included in the ranking of US brands that scammers most frequently use for their scams.

In fact, it seems that Coinbase is the first crypto brand most used for scams, collecting in 4 years as many as 416 frauds in its name. 

Nothing to do with the brands from the USA in other categories, like Meta, used by scammers for as many as 10,457 attacks. 

For the category “banking and finance”, the number one brand most affected by hackers is JCB with over 14,000 scams in its name, but also the popular brands PayPal, Mastercard, and Visa have collected over 1000 attacks each.