Coinspeaker
Coinbase Moves USDC Stablecoin to Its Ethereum Layer-2 Platform Base

In the latest development, crypto exchange Coinbase announced that it would be moving the USDC stablecoins belonging to its customer and corporate accounts, to its Ethereum Layer 2 platform Base. this comes as part of Coinbase’s commitment to leveraging blockchain technology for seamless financial transactions.

Launched seven months ago, Coinbase’s Ethereum Layer-2 Platform Base has witnessed strong growth amid high demand. As reported last week, the Base network has witnessed a strong surge in trading volume and total value locked by its DeFi applications. This also makes Base the sixth-largest Layer-2 scaling solution on the Ethereum blockchain. The Coinbase Base platform leverages optimistic rollups to streamline off-chain transaction processing while ensuring smooth integration with Ethereum’s base layer.

On Monday, March 26, Coinbase Vice President Max Branzburg announced the exchange’s bold strategy on social media platform X. He called this a substantial advancem...