Coinbase, in collaboration with Mercuryo, has announced a partnership aimed at reducing USDC transfer fees for MetaMask users. The initiative is expected to lower costs for both new and existing users.
Reduction in USDC Transfer Fees
Under the new agreement, fees for transferring funds in the Ethereum-based wallet are expected to be cut by about half. This will allow users to move their funds more easily and at a lower cost.
Growing Interest in Stablecoins
The current state of the stablecoin market is attracting attention, especially following the recent U.S. legislation under the GENIUS Act. This law suggests new regulations for dollar-pegged tokens, which could expand their use in the future. Financial institutions are also showing increased interest in integrating stablecoin payments into their services.
Growth Strategies of Coinbase and Circle
Coinbase's collaboration with Mercuryo comes alongside Circle's announcement of a new blockchain platform specifically designed for USDC. Circle and Coinbase have long-standing ties, having jointly launched the CENTRE Consortium, with USDC playing a central role in both companies’ growth strategies.
The partnership between Coinbase and Mercuryo could lead to significant cost reductions for USDC transfers, strengthening both companies' positions in the competitive cryptocurrency market.
