{"id":78511,"date":"2024-05-09T19:07:05","date_gmt":"2024-05-09T23:07:05","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=78511"},"modified":"2024-05-09T19:07:10","modified_gmt":"2024-05-09T23:07:10","slug":"coinbase-sees-potential-with-ethereum-usdc-integration","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/coinbase-sees-potential-with-ethereum-usdc-integration\/","title":{"rendered":"Coinbase Sees Potential with Ethereum, USDC Integration"},"content":{"rendered":"\n

Coinbase is fitting itself for a future of interoperability\u00a0in which one billion customers will utilize decentralized applications across blockchains<\/a> owing to an ETH and USDC integration<\/p>\n\n\n\n

\"Coinbase
Coinbase Sees Potential with Ethereum, USDC Integration<\/figcaption><\/figure>\n\n\n\n

Coinbase's Ethereum layer-2 Base blockchain will save time on Know Your Customer (KYC) and Anti-Money Laundering (AML) with identity attestation via the Ethereum Attestation service and Coinbase verification, which places a tag on the user's so-called smart wallet, according to Coinbase head of tokenization Anthony Bassili, speaking at TokenizeThis 2024 in Miami. <\/p>\n\n\n\n

Verification with Coinbase is accessible to customers who have completed the Know Your Customer<\/a> (KYC) process. Although that might not be adequate in every circumstance, Bassili stated:\u00a0<\/p>\n\n\n\n

\u201cWe expect that eventually to evolve into a KYC reliance model. [\u2026] And it will start to form a market structure that makes it a lot easier for a simpler KYC process.\u201d<\/p>\n\n\n\n

Over \u00a0300,000 walletshave been attested thus far.\u00a0<\/p>\n\n\n\n

To grant Web3 access to consumers who possess wallets and verified identities, Base will utilize the interoperability capabilities of EVM networks\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. The USDC will provide support for the ecosystem. <\/p>\n\n\n\n

In August, Coinbase acquired an equity stake in Circle. “At present, Circle has somewhere in the neighborhood of $28 billion in total assets,” Bassili stated. Additionally, Coinbase is capable of minting USDC.\u00a0<\/p>\n\n\n\n

The emergence of robust tokenized assets across various asset classes may facilitate the exchange of assets for assets, obviating the need to convert them to dollars beforehand. Basilio stated: <\/p>\n\n\n\n

\n

\u201cI think [\u2026] we're a while away from [that goal], because we need regulatory structures to show up, we need products themselves to be designed with identity checks instantly, and there is a lot of market structure that is still has to come.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

Bassili stated, “Cryptocurrency exemplifies the quintessence of a liquid free open market structure in which assets can self-organize and exchange for one another; dollar pair trading is not a prerequisite.” USDC is an initial stage toward developing this market structure in the interim. <\/p>\n","protected":false},"excerpt":{"rendered":"

Coinbase is fitting itself for a future of interoperability\u00a0in which one billion customers will utilize decentralized applications across blockchains owing to an ETH and USDC integration Coinbase’s Ethereum layer-2 Base blockchain will save time on Know Your Customer (KYC) and Anti-Money Laundering (AML) with identity attestation via the Ethereum Attestation service and Coinbase verification, which […]<\/p>\n","protected":false},"author":12,"featured_media":10337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[5555,150,19503,1106],"class_list":["post-78511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-ethereum-3","tag-coinbase","tag-tokenizethis-2024","tag-usdc"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Coinbase-extends-its-Prime-Brokerage-Services-to-9K-Institutional-Investors.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=78511"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/10337"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=78511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=78511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=78511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}