Coinbase Partners With Stripe For USDC Support

Hi NoRamp Community,

Daily News:

1) Coinbase Partners With Stripe For USDC Support

2) CleanSpark Set to Acquire GRIID

3) Crypto platform Yield App Shuts Down

4) Payabli is Building Payment Management Tools For Software Startups

5) Bondaval Unveils New Trade Credit Insurance Solution

Coinbase Partners With Stripe For USDC Support:

• Coinbase has partnered with Stripe to enhance onchain adoption through three key features. First, they are adding USD Coin (USDC) support on Base for Stripe’s crypto payouts, enabling faster international money transfers.

• Secondly, USDC will be available through Stripe’s fiat-to-crypto on-ramp, simplifying the conversion of traditional currency into digital assets on Base. Lastly, Coinbase is integrating Stripe’s on-ramp, allowing Stripe’s users to purchase crypto directly using credit cards or Apple Pay.

• This partnership marks Stripe’s re-entry into the crypto payment space after a six-year hiatus. Stripe recently announced accepting USDC payments on Solana, Ethereum, and Polygon blockchains. Stripe initially explored cryptocurrency in 2014 but halted support in 2018 due to Bitcoin’s volatility and shift from a payment method to a store of value.

CleanSpark Set to Acquire GRIID:

• CleanSpark, a Bitcoin mining giant, plans to acquire GRIID Infrastructure in a deal valued at approximately $155 million, adding 20 megawatts of power immediately through a hosting agreement.

• The acquisition aims to expand CleanSpark's presence in Tennessee, mirroring its growth strategy in Georgia. CleanSpark intends to build out more than 400 MW in Tennessee over the next three years, with targets of 100 MW by the end of the year and 200 MW the following year.

• The acquisition aligns with CleanSpark's active acquisition strategy around April's Bitcoin halving, following recent acquisitions of facilities in Mississippi, Wyoming, and Georgia. The transaction, subject to GRIID shareholder approval, is expected to close in the third quarter and differs from hostile takeovers like Riot Platforms' attempt to acquire Bitfarms.

  

  Source: Cointelegraph

Crypto platform Yield App Shuts Down:

• Yield App, a Seychelles-incorporated crypto investment platform, announced on June 28 that it would halt all operations immediately, citing the need for fair and equal treatment of its users and stakeholders.

• The platform faced portfolio losses due to third-party hedge fund managers holding Yield App assets in custody on FTX, which are currently under litigation. Community channels have been suspended, but a support channel remains open via the official website.

• Despite the halt in operations, previous statements from Yield App had downplayed its exposure to the FTX collapse, with reassurances in November 2022 claiming no significant exposure. In 2024, FTX, which went bankrupt, has been actively selling off assets as part of its bankruptcy proceedings.

Payabli is Building Payment Management Tools For Software Startups:

• Joseph Phillips and William Corbera, friends for over a decade with entrepreneurial backgrounds, founded Payabli in 2020. Corbera co-founded RevoPay, acquired by OSG in 2022, and Phillips led sales teams at Seamless and ServiceTitan.

• Payabli builds infrastructure for software companies to embed and facilitate payments through APIs, aiming to disrupt traditional payment facilitators like Stripe and Adyen. The platform offers tools for payment acceptance, issuance, operations, and risk management.

• Payabli recently raised $20 million in a Series A round, bringing total funding to $32 million at a "nine-figure" valuation. With 60 customers and revenue growth of 3x in the past year, the Miami-based company plans to expand its team from 49 to nearly 70 by year-end.

Bondaval Unveils New Trade Credit Insurance Solution:

• Bondaval, a London-based InsurTech, has launched its first trade credit insurance product, expanding its suite of credit risk mitigation instruments. The product aims to provide greater certainty over credit risk cover and reduce administrative burdens for credit managers.

• Supported by Great American International Insurance (UK) Ltd and Great American International Insurance (EU) DAC, the S&P A+ rated solution is available in the UK and EU. It leverages intelligent tools to help credit managers manage policy obligations and navigate required actions with ease.

• Bondaval’s new product is designed to guide users through policies, portfolios, and obligations with intuitive flows that require little to no training. The platform provides clear tasks and reminders, adapting to changes in the underlying risk portfolio, and aims to simplify and secure credit risk management for businesses.

NoRamp:

NoRamp is building Web2’s favorite Web3 apps on our lightning-fast payment infra. Join our discord, dive into our our docs, or check out our website to learn more.