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Fintech Firm TrueLayer to Power Coinbase Payments, Eyes Stablecoins

The Block

“Fintech unicorn TrueLayer is partnering with Coinbase to enable UK users to top up their accounts via their mobile banking app. This is part of a broader push into digital assets as the open-banking company eyes adding a stablecoin product to its crypto-focused offering.  Open banking is seen as a challenger to established card-based payment systems through its ability to facilitate account-to-account transactions. For crypto, its use-case has so far been used primarily to enable easy payments from fiat to digital currency. Through this partnership with Coinbase, UK users will be able to link their bank accounts directly to Coinbase, authenticate via a banking app and then confirm payment. This will be rolled out progressively across Europe in the coming months.”

Tags: TrueLayer
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