US-listed Cryptocurrency Exchange Coinbase (COIN) is introducing a platform for StableCoin payments to enable businesses to send and receive USDC, the company said on Thursday.
Named simply “Coinbase Business,” the new set of tools will simplify vendor payments, eliminate chargebacks, and offer seamless API integrations, empowering businesses to scale efficiently, the exchange said.
USDC balances held in the Coinbase business earn 4.1% APY, and can be cashed out on demand to a linked bank bank account via wire or ACH, according to a blog post. All transactions can be synced to QuickBooks or Xero by integrating with Cointracker, allowing users to adopt crypto payments while remaining compliant.
The rapidly growing StableCoin arena is a competitive space. Coinbase has a 50/50 split with a circle when it comes to yield earned from USDC StableCoin, the second largest with a market cap of $76 billion. This makes economic sense for Coinbase to bring additional volumes of USDC to its own platform, though the new platform appears to be in competition with the likes of Circle Payment Networkwas released earlier this year.
Tom Duff Gordon, vice president of international policy at Coinbase said there is “a high degree of tolerance” when it comes to the many different lines of business being explored (which Coinbase supports), while the Exchange lists many stablecoins from many jurisdictions. “Some of those directions overlap and some are slightly different,” Duff Gordon said in an interview.
There are signs that Coinbase is exploring ways to flex some stableCoin utility across the exchange as well as its base, Ethereum overlay system. Coinbase is held talks to get stableCoin payment firm bvnk for about $1.5 billion. Duff Gordon declined to comment on the status of that deal.
Looking beyond cross-border payments and remittances, Coinbase is working in areas such as AI-driven agentic commerce and x402 expansion, An open source payment protocol for StableCoin transactions with AI agents.
“I think the commerce agent, machine-to-machine, x402, and the use of stablecoins for things like micro programmable payments in that environment is going to be very interesting,” said Duff Gordon. “It’s not necessarily an overnight scale, but it’s absolutely part of the future.”
