- Coinbase‘s Base Blockchain is aiming to host stablecoins for every global currency by the end of next year.
- Over $5.3 billion in crypto assets are currently held on Base, across more than 700 applications.
- Base announced the addition of two new stablecoins pegged to the Singapore and Australian dollars.
- Stablecoins make up $299 billion in circulation worldwide, with nearly all pegged to the U.S. dollar.
- Base plans to attract local stablecoin developers and issuers to support currency diversity and on-chain growth.
Coinbase‘s blockchain platform Base is moving to list stablecoins linked to every world currency by the end of 2025, according to an announcement at the Token2049 conference. The initiative seeks to encourage digital asset use in a broad range of global markets.
Base already supports more than $5.3 billion in assets across its network, powering over 700 decentralized applications. On Thursday, the network revealed it would soon add stablecoins pegged to the Singapore dollar and Australian dollar.
“Our goal is to have literally every single currency in the world on Base by the end of next year,” said Jesse Pollak, a Coinbase executive, at the conference. He called for software developers and local currency issuers to take part in building these new stablecoins. “If you are someone who is thinking about issuing a stablecoin in any country in the world, please reach out to us,” he said.
Stablecoins are digital assets that are pegged to traditional currencies. According to DefiLlama data, the total market value for stablecoins is about $299 billion. However, almost all of this—$298 billion—is tied to the U.S. dollar.
Pollak identified three reasons for growing stablecoin diversity on Base: easier access for users to use their home currencies, lower barriers for cross-border transactions, and increased economic autonomy for countries outside the U.S. “They can have the same products that are 10x better, enabled by crypto, rather than having to have their whole mind blown,” he said.
Base currently features stablecoins tied to several currencies, including those from Indonesia, Turkey, New Zealand, Brazil, Argentina, the EU, Canada, Nigeria, Kenya, and South Africa. The passage of the Genius Act earlier in the year has led more banks, retailers, and fintech companies to consider launching or supporting stablecoins as part of their businesses.
Pollak described Base’s goal to include every global currency as ambitious but necessary. “It’s an incredibly ambitious goal, but we believe if we do that, it is going to massively accelerate the rate at which the world can come onchain,” he concluded.
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