Stablecoin Infrastructure Heats Up: Coinbase and Mercuryo Team Up to Make USDC Transfers Cheaper on Base

2025-12-20 03:28:51

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The crypto payments landscape is shifting rapidly. With regulatory tailwinds from recent legislation like the GENIUS Act validating stablecoin integration, major players are making strategic moves to capture market share. Coinbase has just inked a collaboration with Mercuryo, a crypto payment infrastructure provider, to dramatically lower transaction costs for users moving USDC to the Base network through MetaMask wallet integration. Industry sources indicate fee cuts could reach approximately 50%.

This development underscores the broader acceleration in USDC adoption. According to the latest data, USDC’s circulation has surged dramatically—the stablecoin now boasts a market cap of $77.11B with 77.1B tokens in active circulation. That represents massive year-over-year growth momentum, cementing USDC’s position as the second-largest stablecoin ecosystem after USDT.

Circle’s Layer 1 Ambitions Signal Ecosystem Maturation

What’s particularly noteworthy is Circle’s parallel push to launch a dedicated Layer 1 network with USDC functioning as its native gas token. This isn’t just infrastructure—it’s a strategic positioning move. By making USDC the fuel for an entire blockchain, Circle is doubling down on utility beyond simple payments. Combined with Coinbase’s ecosystem expansion, we’re seeing stablecoin infrastructure evolve into a full-stack offering.

Traditional Finance Joins the Build

Coinbase’s recent agreement with JPMorgan Chase to enable credit card rewards conversion into USDC signals something crucial: traditional financial institutions are no longer sitting on the sidelines. When major legacy finance players start integrating with crypto infrastructure, it’s a validation signal that stablecoins have crossed from experiment into mainstream utility.

The convergence of regulatory clarity, institutional participation, and product innovation around USDC suggests the next cycle of stablecoin growth won’t come from hype—it’ll come from genuine usability and cost efficiency.

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