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Stablecoins provide a bridge between the traditional financial system and the cryptoeconomy, allowing fiat money to exist in a form that can move more freely and efficiently on the blockchain. Unlike traditional payment methods, stablecoin payments do not require a centralized intermediary. We believe that stablecoins – and most importantly USDC – will be the foundation of a new era of innovation in financial services.
As an active member of the Center Consortium, Coinbase continues to develop our suite of USDC products, growing the USDC ecosystem for our retail, institutional and developer clients.
The strength of USDC pegged to the U.S. dollar, backed by high-quality reserves and transparent disclosures, makes it a practical choice for users looking to remain active in the cryptocurrency market during a downturn. We have seen USDC paired with other digital currencies on centralized exchanges, and used in many DeFi protocols, and the reliability of USDC makes it an attractive collateral asset. The top four stablecoins, including USDC, account for nearly 80% of transactions on centralized exchanges
