Coinbase and Stripe team up to bring the world on-chain

In this post:

  • Coinbase and Stripe partner to integrate crypto into global finance with three key integrations.
  • Stripe adds USDC on Base for faster, cheaper money transfers and fiat-to-crypto conversions.
  • Base network’s total value locked surpasses $8 billion, leading Ethereum layer 2s in transactions per second.

Coinbase and Stripe have just rolled out a mega partnership aimed at pushing crypto mainstream, affecting millions globally. This initiative is marked by three main changes set to shake up the current crypto infrastructure for the better.

First off, Stripe has integrated USDC on Base into their crypto payouts, which promises faster and less expensive transactions across more than 150 countries.

Additionally, they’ve turbocharged their fiat-to-crypto onramp within the US, making it possible for customers to flip fiat into crypto at speeds previously unseen.

Coinbase and Stripe team up to bring the world on-chain
Source: L2Beat

Not to be outdone, Coinbase is incorporating Stripe’s onramp into its Coinbase Wallet, allowing users to snap up crypto instantly using credit cards and Apple Pay.

With Base now supported, Stripe’s expansive network can look forward to more streamlined money transfers that are easy on the wallet.

Base has carved out a name for itself as the go-to L2 solution, known for its security, cost-effectiveness, and developer-friendly environment.

Speaking of making a splash, Base’s Total Value Locked (TVL) has recently surpassed a whopping $8 billion, overtaking Optimism’s OP Mainnet and positioning itself as a key player within the Superchain ecosystem.

Coinbase and Stripe team up to bring the world on-chain
Source: L2Beat

It now sits as the second-largest Ethereum scaler in terms of TVL, only trailing behind Arbitrum One. Since its launch in August 2023, Base’s growth trajectory has been nothing short of explosive.

It marked its first billion in TVL by February of the following year and has been on an upward sprint ever since.

Base leads all Ethereum L2s with a transaction rate of 30.36 per second over the past month, and processing nearly 65 million transactions in the same timeframe.

What drives Base’s surge in on-chain activity

Speaking to Cryptopolitan, Radar Bear, co-founder of the Base perpetual futures exchange Jojo, praised Base’s active and helpful team.

Base users are becoming more sophisticated, engaging in borrowing, lending, and earning passive income. The network has the largest growth among Ethereum layer 2 solutions.

Radar told us that projects on Base focus on building high-quality products with great UI/UX and solid code bases. He compared their performance to the early days of Arbitrum and Binance Smart Chain.

“The Base team always active and helpful. So we think they perform like the early stage of Arbitrum or Binance Smart Chain. That’s pretty good.”

Radar Bear

Radar attributed Jojo’s growth to active users on Forecaster, the biggest social platform on Base. He mentioned that Base users prefer high-risk trading, contributing to the platform’s high trading volume. “Base users, they like high-risk trading, so they bring us a lot of trading volume,” he said. He added:

“There are very few bugs. We found some very tiny problems but they can fix it very quickly. We always have a channel to talk with the official developers so that’s pretty helpful.”

Radar recommended Base for new DeFi developers due to its active user base and opportunities to introduce DeFi products to new users. He noted that many Base users had never used DeFi before but found Jojo to be a better trading tool.

Jai Hamid

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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