Stripe will incorporate Coinbase's Layer 2 network Base into its crypto payout products, and Coinbase will add Stripe as a way for its customers to buy crypto with credit cards or Apple Pay inside the Coinbase Wallet, according to a Coinbase release published Thursday.
Additionally, Coinbase customers will be able to use the stablecoin USDC via Base on Stripe to streamline fiat-to-crypto conversions and facilitate money transfers to over 150 nations, the release continues. "Crypto is the future of money because it is unrestricted by international borders or banking hours, and reduces both friction and fees for users. These three key integrations lay a strong foundation for Stripe and Coinbase to begin building a better payments future for users around the world," Coinbase wrote in a statement.
Base maintains $1.57 billion in total value locked, according to the crypto data tracker DeFiLlama. The Layer 2's mainnet officially opened to the public on Aug. 9, 2023. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures.