Coinbase has announced a strategic partnership with Mercuryo aimed at reducing fees for users transferring USDC via the MetaMask wallet.
Fee Reductions for USDC Users
The collaboration between Coinbase and Mercuryo aims to lower the fees for transferring USDC to the Base network through the MetaMask wallet. Users are expected to benefit from nearly a 50% reduction in costs. This initiative comes in response to the growing interest in stablecoins following the enactment of the GENIUS Act in the US.
Circle's Vision for USDC
Circle recently announced plans to build a Layer-1 network designed for stablecoins, positioning USDC as a transaction fee coin. This highlights the strong connection of USDC with major exchanges and the desire to expand its functionality.
Growth Data for USDC in the Market
Currently, USDC ranks as the second-largest stablecoin by market capitalization. Since its public listing in June, the circulating supply of USDC has surged by 90% year-on-year, reaching $61.3 billion.
The partnership between Coinbase and Mercuryo represents a significant step toward lowering costs for stablecoin transfers, which may enhance their broader usage and the further development of the crypto economy.
