Coinbase and Stripe Partner for Global USDC Adoption

tsaroz

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Quote from: Cryptoababe on July 03, 2024, 07:41:43 PM

Quote from: pangu on July 01, 2024, 10:58:49 AM

Coinbase and Stripe have announced a partnership to integrate USDC on Base across Stripe’s crypto product suite. Stripe will incorporate USDC on Base into its crypto payouts, enabling faster, cheaper money transfers to over 150 countries.
Additionally, Coinbase will integrate Stripe’s fiat-to-crypto onramp into Coinbase Wallet, allowing users to buy crypto instantly with credit cards and Apple Pay.

https://beincrypto.com/coinbase-and-stripe-partner-for-global-usdc-adoption/

I see Base Network as a very good, fast, and low-cost one for USDC support. It will surely help seamless USDC transactions. While Coinbase has been instrumental in supporting various aspects of crypto, their global reach appears limited. Their services seem to be concentrated in specific regions, particularly the United States, with minimal presence in Africa.

Good to see an alternative for USDT gaining some momentum. USDT too is fine and all for how integrated it is in most exchanges and ease of transactions but the occasional controversial news and the times we had disastrous end to some large crypto business, USDT has became a too large of an asset that a small hiccup on its valuations could cause disaster. Almost all of my active trading pairs are USDT and if there's some problem with it, I'd be selling all of my coins and getting nothing. With a good reach and volume in USDC, at least the effect of any disaster whether be it in USDT or USDC would have less severe effect.

Cryptoababe

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Quote from: pangu on July 01, 2024, 10:58:49 AM

Coinbase and Stripe have announced a partnership to integrate USDC on Base across Stripe’s crypto product suite. Stripe will incorporate USDC on Base into its crypto payouts, enabling faster, cheaper money transfers to over 150 countries.
Additionally, Coinbase will integrate Stripe’s fiat-to-crypto onramp into Coinbase Wallet, allowing users to buy crypto instantly with credit cards and Apple Pay.

https://beincrypto.com/coinbase-and-stripe-partner-for-global-usdc-adoption/

I see Base Network as a very good, fast, and low-cost one for USDC support. It will surely help seamless USDC transactions. While Coinbase has been instrumental in supporting various aspects of crypto, their global reach appears limited. Their services seem to be concentrated in specific regions, particularly the United States, with minimal presence in Africa.

jaberwock

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Quote from: alani123 on July 01, 2024, 11:21:17 AM

A victory nevertheless but we have to consider that this is a USDC aka a stablecoin partnership.

Coinbase just getting more usage for their token isn't exactly more use for crypto. People that deal with stablecoins often buy them or issue them directly with cash. For instance if you have a Coinbase account even in Europe where there is no USD balances, you can buy USDC with EUR. This completely circumvents using any actual crypto like Bitcoin.

So the news are good for Coinbase and their stock, but not a guaranteed better market for BTC. This might even take away some usage from Bitcoin actually.

It is a victory because USDC is still a crypto and it will still allow the people who use it to explore other cryptos or opportunities in it. Another thing is that, Coinbase is a crypto exchange and there are still different cryptos that it supports other than the stable coins, so again those who deal with stable coins or fiat (Stripe) might still discover other cryptos later on. Don't worry.

This won't take away some usage of BTC because BTC is still different from the stable coins, I mean BTC is decentralized while stable coins are centralized which means there are less to no restrictions of using a BTC. Perfect to use if you're from a country that are strict, especially when it comes to payment methods.

X-ray

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Just about damn time, the untapped potential of payment processing using stablecoin is too good to pass on, just see this market cap and trading volume of stablecoin

this probably gonna motivate other stablecoin or another payment gateway company to do the same thing, this time USDC, next probably DAI and so on, USDT is kinda obvious in taking this direction as well, probably if there's no legal complication with this coinbase and stripe partnership they will proceed to do the same exact thing.

kinda tired seeing ourselves being forced to convert our stablecoin or crypto to fiat first to make transaction in big e-commerce site, it's time for direct crypto payment to thrive.

bitmover

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Quote from: DaveF on July 01, 2024, 11:08:58 AM

The link from Coinbase https://www.coinbase.com/blog/coinbase-stripe-team-up-to-increase-global-adoption-of-crypto
Anything that increases BTC / crypto adoption, you don't have to like Coinbase or Stripe and lets face it a lot of people don't. But, they are at least doing something in the crypto sphere.

I think this is quite positive.

For example, coinbase didn't came to Brazil yet. But stripe did. I have received some payments in stripe already (a bit expensive but works)

I would love to see cryptocurrencies payment in stripe, probably with cheaper fees

alani123

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A victory nevertheless but we have to consider that this is a USDC aka a stablecoin partnership.

Coinbase just getting more usage for their token isn't exactly more use for crypto. People that deal with stablecoins often buy them or issue them directly with cash. For instance if you have a Coinbase account even in Europe where there is no USD balances, you can buy USDC with EUR. This completely circumvents using any actual crypto like Bitcoin.

So the news are good for Coinbase and their stock, but not a guaranteed better market for BTC. This might even take away some usage from Bitcoin actually.

Sky_T

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Wow! That will actually be a nice collaboration only if the system payout is faster and cheaper during transfer of money. I think many people will really want to use it since the purchase of crypto can be done by credit cards and Apple pay. Am looking forward for the partnership to be accomplished.

DaveF

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The link from Coinbase https://www.coinbase.com/blog/coinbase-stripe-team-up-to-increase-global-adoption-of-crypto
Anything that increases BTC / crypto adoption, you don't have to like Coinbase or Stripe and lets face it a lot of people don't. But, they are at least doing something in the crypto sphere.

USDC is at least a bit more regulated and transparent then USDT so there is that. On, the flipside I don't think there are a lot of places that are not full KYC with it. But if you are buying / selling with stripe you are already known.

-Dave

pangu

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CoinMetro

Coinbase and Stripe have announced a partnership to integrate USDC on Base across Stripe’s crypto product suite. Stripe will incorporate USDC on Base into its crypto payouts, enabling faster, cheaper money transfers to over 150 countries.
Additionally, Coinbase will integrate Stripe’s fiat-to-crypto onramp into Coinbase Wallet, allowing users to buy crypto instantly with credit cards and Apple Pay.

https://beincrypto.com/coinbase-and-stripe-partner-for-global-usdc-adoption/

Topic: Coinbase and Stripe Partner for Global USDC Adoption (Read 96 times)