StablyticsThe Stablecoin Market Map
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About

Coinbase is the largest US-listed crypto exchange and a primary stablecoin trading venue. It co-founded USDC with Circle via the Centre consortium and earns a share of USDC reserve revenue, while operating Base (its L2), Coinbase Wallet, custody and on/off-ramp services. In 2026 it is positioning around stablecoins, Base, and an 'everything exchange' strategy.

Receives a large share of USDC reserve income; deep strategic and commercial partner of Circle.

Stablecoins

USDCEURCcbBTC (related)USDT

Key products

Coinbase ExchangeBaseCoinbase WalletCoinbase CustodyCoinbase OnrampCustom StablecoinsUSDC distributionx402 protocolHTTP 402 paymentsAgent micropaymentsCoinbase CardCoinbase One CardCommerce checkoutCoinbase Businessx402 / onchain paymentsCoinbase PrimeStakingCDP Embedded WalletsCDP Server WalletsWallet SDKCoinbase OfframpPay SDKSmart WalletPasskey sign-inSmart Wallet SDKBase Account / Smart WalletBase App

Chains

BaseEthereumSolanaBitcoinPolygonArbitrumOptimismZora
Founded
2012
HQ
Remote / Wilmington, Delaware, USA
Stage
Public
Funding
IPO 2021 (NASDAQ: COIN)

Related companies

Stripe logo

Stripe

Global payments platform with native stablecoin checkout

Stripe is the dominant internet payments platform. After acquiring stablecoin infrastructure startup Bridge for ~$1.1B in early 2025 and stablecoin wallet firm Privy, Stripe rolled out native stablecoin acceptance: every Stripe merchant can accept USDC (and USDB) through standard checkout, and Stripe powers USDC payments for millions of Shopify merchants. It charges a flat ~1.5% on stablecoin transactions.

Payments & PSPsIssuance & OrchestrationOn / Off-Ramps
MoonPay logo

MoonPay

Fiat-to-crypto on/off-ramp infrastructure

MoonPay is one of the largest fiat<>crypto on/off-ramp providers, letting businesses embed buy/sell flows via widget, SDK, or API across 180+ countries and most major fiat currencies and local payment methods. It has expanded aggressively through acquisitions since 2025, adding stablecoin payments, card, and wallet capabilities (including Helio and Iron).

On / Off-RampsPayments & PSPsWallets
Anchorage Digital logo

Anchorage Digital

First federally chartered crypto bank; stablecoin issuer and custodian

Anchorage Digital is the only federally chartered US crypto bank, providing qualified custody plus turnkey, federally regulated infrastructure for minting, redeeming and managing stablecoin issuance. It issues USDtb (with Ethena, reserves in BlackRock's BUIDL), acquired USDM issuer Mountain Protocol, and serves as a regulated issuance partner for stablecoin programs.

Banking & ReservesCustody & SecurityIssuance & Orchestration
BitGo logo

BitGo

Qualified custodian and digital asset infrastructure

BitGo is a pioneering institutional custodian with a long Bitcoin custody track record, operating OCC and state trust charters. It provides multisig and MPC custody, off-exchange settlement (Go Network), wallet infrastructure and stablecoin issuance (USDS via World Liberty / WBTC custody). BitGo completed the first crypto custodian IPO in January 2026.

Custody & SecurityIssuance & OrchestrationFiat-Backed Issuers
Cobo logo

Cobo

Custody and wallet-as-a-service platform

Cobo provides full-suite stablecoin payment operations combining MPC custody, payment APIs and Wallet-as-a-Service across 80+ chains. It launched a stablecoin payment solution for cross-border business and integrated Plasma early, positioning as a qualified custodian and orchestration layer for stablecoin treasury and payments.

Custody & SecurityWalletsIssuance & Orchestration
Crossmint logo

Crossmint

All-in-one stablecoin & wallet infrastructure (50+ chains)

Crossmint is an all-in-one stablecoin and wallet infrastructure platform supporting 50+ blockchains. It provides embedded wallets, stablecoin issuance/minting, and enterprise payout orchestration with broad multi-chain coverage, positioning itself as a Bridge alternative for businesses building stablecoin products.

Issuance & OrchestrationWalletsPayments & PSPs