Coinbase Ramps Up USDC Reserves on Base with TVL Exceeding $1 Billion
Coinbase has announced plans to increase the storage of corporate and customer USDC balances on Base, an Ethereum Layer 2 solution incubated by the exchange and built on the open-source OP Stack.
The move is expected to provide benefits such as lower fees, faster settlement times, and enhanced security for managing customer funds.
Max Branzburg, Coinbase’s Vice President and Head of Consumer Products, announced the decision in a Wednesday post on X .
“This enables us to manage and secure customer funds with lower fees and faster settlement times, with no impact to the Coinbase user experience,” he said.
He further encouraged other companies to follow Coinbase’s lead in moving their business onchain.
The announcement has been met with positive reception, with Jesse Pollak, a contributor to Base, expressing support and excitement for Coinbase’s transition.
Pollak described the move as “based” and pledged continued support for Coinbase in their onchain endeavors.
based
excited to keep supporting @coinbase moving onchain
— Jesse Pollak (jesse.xyz)
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