Payments' new power couple

Coinbase linked with Stripe — what appears to be a new payments power couple in the making.

Why it matters: The U.S.'s largest crypto exchange has been on a mission to prove the value of digital assets through their utility, and linking with a payments giant can help facilitate that.

How it works: Coinbase is adding the payment processor's fiat-to-crypto on-ramp to its wallet. Stripe, meanwhile, is adding USDC on the exchange's Base network to enable crypto payouts and conversions.

The big picture: Coinbase Chief Brian Armstrong has said that his goal is to have the average transaction on Base "take less than one second and cost less than 1 cent anywhere in the world."

Zoom in: That effort, and proving it to the masses, was visible at its recent Summit in New York, putting its new passkey-based wallet front and center.

• FWIW folks in suits there seemed to find the app as easy to use as I did. (Seriously, it's a pretty good UX at least for a non-trading rube like me.)
• Coinbase also hit up various slice slingers in NYC to accept USDC. (Coinbase's biz benefits from people using USDC more.)

For Stripe, perhaps linking with a crypto juggernaut will keep it more committed to its crypto endeavor this time around.

• Flashback: It was only this year when the company said crypto payments were coming back after it cut the service in 2018.