Lucía Peña
Coinbase (NASDAQ: COIN) has announced a strategic alliance with crypto payments infrastructure provider Mercuryo, aimed at reducing on-ramping fees for USDC stablecoin transactions within the widely used Ethereum-based MetaMask wallet.
The initiative comes at a time when stablecoin adoption is surging, fueled by the recent passage of the GENIUS Act in the U.S., which sets the regulatory framework for this fast-growing sector. It also aligns with a broader push from major financial institutions looking to integrate fiat-pegged digital tokens into their operations.
Under the partnership, new and existing USDC holders moving funds to Base — Coinbase’s Layer 2 scaling network — will benefit from on-ramp fees reduced by approximately 50%, according to Mercuryo’s estimates.
Strategic Timing Amid Stablecoin Market Growth
This collaboration follows Circle’s (NYSE: CRCL) recent announcement that it is developing a stablecoin-native Layer 1 blockchain where USDC will serve as the primary gas token. USDC, originally launched through the CENTRE Consortium co-founded by Circle and Coinbase, continues to be closely tied to the exchange’s ecosystem.
“Stablecoins are front and center in the crypto narrative of 2025, with USDC playing a pivotal role,” said Petr Kozyakov, CEO of Mercuryo. “They are powering a wide range of use cases in the digital economy, and we expect MetaMask users to fully embrace this new discount for on-ramping USDC.”
Expanding USDC Utility Through New Partnerships
Coinbase has recently been expanding USDC’s reach through multiple initiatives, including a deal with JPMorgan to allow credit card reward point conversions directly into USDC on Base.
Currently the second-largest stablecoin by market capitalization, USDC has seen explosive growth. Following Circle’s high-profile IPO in June, the company reported a 90% year-over-year increase in circulation, reaching $61.3 billion in its latest quarterly earnings report.
