Share this article
Crypto Exchange Coinbase Waives Fees for Converting Between USDC and Fiat, Eyeing Global Audience
The company hopes the move will encourage wider global adoption of the stablecoin it helped invent.
Updated May 9, 2023, 4:00 a.m. Published Oct 20, 2022, 5:04 p.m.
Publicly traded crypto exchange Coinbase (COIN) will waive commission fees for USD coin (USDC) sales and purchases made in any fiat currency in a push to promote the wider global adoption of its stablecoin, it said in a blog post Thursday.
The company's policy change is effective immediately.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Users usually have to pay fees in the process of converting their local currency into USDC, and this is a barrier to broader international adoption,” the post read. “The way to correct this, and accelerate adoption of USDC internationally, is by establishing global parity for all users.”
Coinbase’s decision to promote USDC (which it issues as a co-founder of the Centre Consortium) comes at a time when inflation is on the rise globally, with consumers in rich countries and poor feeling the heat of rising prices. That has prompted some to move their volatile fiat currencies into stablecoins such as USDC, which is pegged in value to the U.S. dollar.
Read more: Latin Americans Turning to Dollar Stablecoins Amid Inflation Surge: Paxos
The push to accelerate global adoption follows reports that USDC’s market share is falling in part because of pressure from Binance, a crypto exchange that has been aggressively promoting its own stablecoin as an alternative to USDC.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Pye Finance Raises $5M Seed Round Led by Variant and Coinbase Ventures
The platform aims to make locked Solana staking positions tradable via an onchain marketplace.
What to know:
- Pye Finance raised a $5 million seed round led by Variant and Coinbase Ventures, with participation from Solana Labs, Nascent and Gemini.
- The startup is building an onchain marketplace on Solana for time-locked staking positions that can be traded.
- Pye says the product targets Solana’s large pool of staked SOL, worth roughly $75 billion, and aims to give validators and stakers more flexibility over terms and reward flows.
Top Stories
