Stripe Teams Up with Coinbase to Support MultiChain USDC and Integrate Wallet Payments

In late April this year, global online payment giant Stripe returned to the cryptocurrency payment market, initially supporting USDC on the Ethereum, Solana, and Polygon networks. Now, Stripe has announced a partnership with the largest US exchange, Coinbase, to bring more convenient and faster payment services to millions of businesses and users worldwide. According to Coinbase’s statement, this partnership involves three key aspects aimed at increasing on-chain adoption and providing faster and cheaper financial infrastructure. Stripe will add USDC on the Base chain to its cryptocurrency payment product, allowing the Stripe platform to transfer funds to more than 150 countries/regions faster and cheaper. In addition, USDC on the Base chain has also been added to Stripe’s fiat-to-crypto gateway, allowing US customers to convert fiat currency to cryptocurrency faster than before. At the same time, Coinbase will also add Stripe’s fiat-to-crypto gateway to its wallet, allowing people to buy cryptocurrency instantly using credit cards and Apple Pay. Stripe’s massive global user network will be able to benefit from faster and cheaper transfers by increasing support for the Base chain. Stripe processed up to $1 trillion in transactions last year and has become the preferred payment solution for millions of businesses worldwide. Many well-known e-commerce platforms such as Shopify, Amazon, and Etsy use Stripe to process payments. Subscription services such as Netflix and Spotify rely on Stripe’s payment system to manage user subscriptions and automatic deductions. Ride-sharing companies such as Uber and Lyft use Stripe to process payments for passengers and driver income distribution. However, Stripe’s exploration in the cryptocurrency field has been full of twists and turns. The company began supporting Bitcoin payments in 2014 but stopped in 2018 due to Bitcoin’s volatility and high transaction fees. Now, in April of this year, Stripe returned to the cryptocurrency payment field and chose the stablecoin USDC. Stripe’s cryptocurrency director, John Egan, said at the time that the company would eventually announce a more detailed list to support USDC transactions on more blockchain networks.