JPMorgan estimates that Coinbase's upcoming Base token could unlock up to $34 billion in value, driven by the growth of its Layer 2 network and new monetization strategies. The bank raised Coinbase's stock rating and price target, highlighting potential profit from changes to USDC rewards and the integration of a decentralized exchange within the Base platform.

Coinbase has introduced a new feature in its app that allows users to make peer-to-peer payments using USDC, a stablecoin. This development aims to enhance the usability of cryptocurrency for everyday transactions and improve user engagement within the platform.

Shopify is set to roll out stablecoin payments using USDC to its merchants later this year, marking its largest move into the cryptocurrency space. The integration, developed in collaboration with Coinbase and Stripe, aims to streamline payments for online retailers by allowing faster transactions and reduced fees. Merchants will have the option to accept USDC payments automatically, with incentives like cash back for those who do.

Bernstein analysts predict that USDC's supply will increase from $76 billion to $220 billion by the end of 2027, capturing one-third of the stablecoin market. Key factors driving this growth include Circle's regulatory compliance, partnerships with major exchanges, and the recent implementation of the GENIUS Act, which favors U.S.-based stablecoin issuers.