Coinbase Targets Stablecoin Growth Amid Trading Downturn

Coinbase Global Inc., the largest US cryptocurrency exchange, is shifting its focus to stablecoin payments as a major source of revenue growth. This move comes as the company looks beyond trading to expand its digital-asset business.

The firm's CEO, Brian Armstrong, believes that the $300 billion stablecoin market will grow 10-fold by 2030. Stablecoins are pegged to fiat currencies like the US dollar and can facilitate faster and cheaper cross-border transactions than traditional payment rails.

Coinbase is integrating with banks, fintechs, and companies to increase payment activity in stablecoins. This move aims to tap into a growing market that offers significant revenue potential for the company.