- Coinbase teams up with Mercuryo to cut USDC on-ramp fees for Base network users by about 50%.
- Circle unveils a Layer 1 blockchain using USDC as its gas token, boosting stablecoin utility.
- USDC supply surges 90% to $61.3B, reinforcing its growing dominance in the crypto space.
Coinbase just made a move that could make USDC a lot cheaper to use on its Base network. Partnering with payment processor Mercuryo, they’re planning to cut on-ramp fees for MetaMask users by roughly half. That means moving your USDC onto Base might soon be about 50% cheaper, whether you’re a fresh user or already in the ecosystem.
The timing’s interesting — this comes right after the U.S. passed the GENIUS Act, setting up a clearer path for stablecoin regulation. With big banks sniffing around stablecoins and DeFi heating up again, Coinbase’s move feels like it’s positioning USDC as an even bigger player in the next wave. Lowering those costs could make it a whole lot easier for people to plug into DeFi protocols built on Base without thinking twice about gas fees or transfer charges.
Circle’s Push for a USDC-Powered Blockchain
Just a few days before this news dropped, Circle — the company behind USDC — revealed it’s building its own Layer 1 blockchain. The twist? USDC itself will be used as the gas token. That’s a bold shift, turning the stablecoin from just a store of value into the actual fuel for transactions. It could mean faster payments, cleaner integrations, and fewer headaches for developers.
Circle and Coinbase aren’t strangers here. They co-founded the CENTRE Consortium, which brought USDC to life in the first place. Now, with Circle fresh off its June IPO and sitting on a 90% surge in USDC supply — hitting $61.3 billion — the two are doubling down on making USDC the stablecoin everyone uses without even thinking about it.
Why This Matters for MetaMask Users and Base Adoption
Base, Coinbase’s Ethereum Layer 2, was built to tackle Ethereum’s biggest pain points — slow transactions and high fees. By working with Mercuryo to make USDC transfers cheaper, Coinbase is smoothing the onboarding process for both casual traders and heavy DeFi users.
For MetaMask users in particular, those savings add up fast, especially if you’re moving larger amounts. And with Base offering faster, cheaper DeFi interactions, the move could convince more people — even institutions — to shift their stablecoin activity away from the Ethereum mainnet.
Stablecoin Momentum Isn’t Slowing Down
Stablecoins aren’t just sticking around — they’re taking center stage. Between the fee cuts, Circle’s Layer 1 announcement, and USDC’s booming supply, the stage is set for deeper integration across payments, remittances, and on-chain trading.
Coinbase’s focus here isn’t just about lower fees — it’s about building an easier, more frictionless entry point into its Layer 2 world. And if the trend holds, USDC could go from “one of many” to the default stablecoin for the next chapter of crypto’s growth.
