Coinbase has announced the launch of the second Stablecoin Bootstrap Fund aimed at deepening USDC liquidity. The new fund will support protocols across various blockchains and expand access to stablecoins.
Goals of the New Fund
The new fund is aimed at distributing capital among protocols such as Aave, Morpho, and Kamino, helping them improve their liquidity. Coinbase is also allowing other projects to apply for inclusion in the fund.
Context and Strategic Approach
According to a Coinbase spokesperson, the current climate is ideal for scaling on-chain financial services. They point to strong momentum in DeFi adoption, evidenced by record active decentralized loans totaling $40.7 billion.
Future of the Initiative
Coinbase plans to gradually expand the fund, supporting not only the initial recipients but also additional protocols and stablecoins as market needs evolve. 'The right time to build is now,' the spokesperson emphasized.
The launch of the second Bootstrap Fund by Coinbase reflects a strategic intent to deepen USDC liquidity and broaden access to decentralized financial services, potentially forming a more resilient ecosystem for all market participants.
