Jesse Pollak, head of Base at Coinbase, emphasized the need for non-USD stablecoins in the crypto ecosystem during a speech at Token2049 in Singapore. He argued that local currency-pegged stablecoins could enhance local utility and support a thriving creator economy through the Base App, which is currently in beta testing.
Coinbase, in collaboration with Mercuryo, has lowered on-ramping fees for USDC users on its Base platform, providing a discount aimed at MetaMask users. This announcement follows Circle's plans to develop a stablecoin-native Layer 1 blockchain utilizing USDC as its gas token.