Want to trade and transact using stablecoins? Circle’s USDC stablecoin is coming to Coinbase’s Base next week, making it easier than ever to engage in secure and reliable digital asset transactions. With USDC, users can enjoy the benefits of a stable value digital currency while enjoying the convenience and accessibility of Coinbase’s robust trading platform. Stay tuned for the launch next week and take advantage of the seamless integration of Circle’s USDC stablecoin on Coinbase’s Base.
USDC on Base Network: A New Upgrade for Circle’s Stablecoin
After two years of collaboration, Coinbase and Circle have announced a new agreement, with Coinbase acquiring a minority stake in Circle. This partnership has led to the latest upgrade for the USDC stablecoin.
Stable September: USDC Becomes Native on Base Network
Circle’s CEO, Jeremy Allaire, recently shared exciting news for the USDC stablecoin. He announced that USDC would be available on the Base network, making it native to the platform. This move eliminates the need for a bridge and simplifies the management of holdings for institutional investors across both networks.
By transitioning USDC to the Base network, Circle aims to address concerns about the reserves backing bridged USDC tokens. It is expected that native USDC liquidity will grow and potentially replace bridged USDC liquidity sourced from Ethereum. However, for now, the Base Bridge will continue to operate normally.
Smooth Transition to Base Network
Once the Base-native version of USDC is launched, detailed information will be provided to developers on how to transition to the new network. The BuildOnBase X account, associated with Base, will ensure developers have the necessary guidance and support during the transition.
The Base team has been experiencing significant growth, attracting over 100k users in a single day and reaching over a million users within two weeks. To further expand its reach, Base has signed a superchain agreement with Optimism, leading to shared revenue and governance of the Optimism collective.