Checkout.com has published details of its long-running infrastructure partnership with Coinbase, the largest cryptocurrency exchange in the United States, disclosing for the first time the operational scale of an arrangement that began in 2020 as a card-payout relationship and has since grown into a broad payments mandate spanning acquiring, fraud detection, authentication and smart routing.
The payment technology company now provides acquiring for roughly half of Coinbase’s business outside the United States and also supports critical payment infrastructure within the US market, according to the case study. Coinbase operates across more than 100 markets, meaning the infrastructure must function under the liquidity and compliance pressures of a highly varied regulatory and banking landscape.
The numbers
The headline metrics from the partnership carry commercial weight. Using Checkout.com’s Intelligent Acceptance product alongside smart routing, Coinbase achieved a 13 percentage point increase in payment acceptance rates, a material improvement in a sector where declined cards represent lost trades and customer churn. Separately, fraud rates were cut by half even as transaction volumes grew, which the companies describe as evidence that higher acceptance and lower fraud are not mutually exclusive.
Coinbase also expanded its payout coverage by adding Mastercard payouts alongside its existing Visa offering, unlocking Mastercard network incentives in the process.
Alaina Revoir, head of financial services partnerships at Coinbase, said the relationship had developed into something closer than a conventional vendor arrangement. “With Checkout.com as our partner, we were really able to bring that next level of payment services to our users, building out our infrastructure to allow for the redundancy we need to operate in over 100 markets.”
Checkout.com’s engineering teams built a custom intelligent orchestration layer that allows Coinbase to route transactions across multiple payment providers, giving it the redundancy to keep payments available when individual processors experience disruption. Yu Ai Seet, director of crypto account management at Checkout.com, noted that the relationship began with card payouts and expanded as institutional trust developed.
Market context
The disclosure arrives at a moment when the payments infrastructure layer for digital-asset platforms is attracting serious commercial attention. Coinbase’s recent listing activity, its expanding institutional products and its lobbying success in shaping US digital-asset legislation have made it one of the highest-profile clients a payments provider can claim. For Checkout.com, the case study serves as a public signal of its crypto-specialised credentials at precisely the point when regulated stablecoin frameworks are beginning to take shape in the UK, under the Financial Services and Markets Act 2023, and in the EU under MiCA, which entered full application in December 2024.
The two companies are also collaborating on stablecoin acceptance, enabling eligible enterprise merchants on Coinbase’s platform to receive stablecoin payments, a product category that sits at the intersection of the emerging regulated stablecoin regime and the card-scheme infrastructure Checkout.com already operates.
The broader competitive picture for Checkout.com includes rivals such as Adyen and Stripe, both of which serve large digital-asset and crypto-adjacent clients and offer comparable intelligent acceptance and multi-acquirer orchestration tooling. The durability of Checkout.com’s position with Coinbase will depend on whether its crypto-specific account management model and direct acquiring licences in key jurisdictions continue to outperform what a general-purpose processor can offer as the regulatory perimeter for digital-asset payments narrows and standardises.
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