{"id":34846,"date":"2025-07-02T17:02:11","date_gmt":"2025-07-02T17:02:11","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34846"},"modified":"2025-07-02T17:02:11","modified_gmt":"2025-07-02T17:02:11","slug":"coinbase-is-driving-adoption-of-circles-usdc-for-payments-financial-services-bernstein","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34846","title":{"rendered":"Coinbase is Driving Adoption of Circle&#8217;s USDC for Payments, Financial Services: Bernstein"},"content":{"rendered":"<div>\n<p>Crypto exchange Coinbase (COIN) is moving beyond its role as a USDC distributor, positioning itself as a key driver of stablecoin adoption across payments and financial services, Wall Street broker Bernstein said in a research report Wednesday.<\/p>\n<p>The company recently launched <a href=\"https:\/\/www.coindesk.com\/business\/2025\/06\/18\/coinbase-debuts-stablecoin-payment-stack-following-shopify-partnership\">Coinbase Payments<\/a>, built in collaboration with Stripe and Shopify, and also introduced <a href=\"https:\/\/www.coinbase.com\/en-gb\/business\">Coinbase Business<\/a>, targeting startups and smaller companies. Both services use Circle&#8217;s USDC stablecoin. <\/p>\n<p>In derivatives, <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/06\/18\/coinbase-derivatives-nodal-clear-plan-to-use-usdc-as-collateral-for-futures-trades\">Coinbase partnered with Nodal Clear<\/a><strong> <\/strong>to use USDC as collateral in U.S. futures markets. <\/p>\n<p>The crypto exchange&#8217;s Base blockchain has hosted over $3.7\u00a0billion in USDC and has processed $6.8 trillion in USDC-related settlement volume year-to-date, Bernstein analysts, led by Gautam Chhugani, wrote.<\/p>\n<p>Coinbase owns a direct equity stake in Circle (CRCL), the issuer of USDC, and also has a revenue sharing agreement for the stablecoin.<\/p>\n<p>&#8220;Under the new revenue sharing agreement, Coinbase received 100% of the interest income from USDC held directly on its platform, and for the USDC held off-platform, Coinbase and Circle split the revenue 50:50,&#8221; said Chhugani.<\/p>\n<p><a href=\"https:\/\/www.coindesk.com\/learn\/what-is-a-stablecoin\">Stablecoins are cryptocurrencies<\/a> whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets and are also used to transfer money internationally.<\/p>\n<p>Stablecoin revenues have become a major contributor to Coinbase\u2019s bottom line, Chhugani continued. Non-trading revenue grew from $181M in 2020 to $2.8 billion in 2024, now accounting for 42% of total revenue.<\/p>\n<p>The shift underscores Coinbase\u2019s incentive to scale USDC utility across payments and <a href=\"https:\/\/www.coindesk.com\/learn\/what-is-defi\">decentralized finance<\/a> (DeFi), anchoring it as a long-term growth engine beyond trading, the report added.<\/p>\n<p>Bernstein has an outperform rating on both Coinbase and Circle, with respective price targets of $510 and $230.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/06\/25\/coinbase-is-the-most-misunderstood-business-in-crypto-bernstein-hikes-price-target-to-510\"><span style=\"text-decoration:underline\">Coinbase Is the Most Misunderstood Business in Crypto, Says Analyst With Highest Wall Street Price Target<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchange Coinbase (COIN) is moving beyond its role as a USDC distributor, positioning itself as a key driver of stablecoin adoption across payments and financial services, Wall Street broker Bernstein said in a research report Wednesday. The company recently launched Coinbase Payments, built in collaboration with Stripe and Shopify, and also introduced Coinbase Business, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34846","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34846"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34846\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}