TLDR
- Coinbase partners with Mercuryo to reduce USDC on-ramping fees for MetaMask users.
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USDC on-ramp fees could drop by 50% for Base network users.
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Circle is building a stablecoin-native Layer 1 using USDC as a gas token.
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USDC, the second-largest stablecoin, has seen a 90% growth in circulation.
Coinbase has announced a partnership with Mercuryo to lower USDC on-ramping fees for users on Base, its Ethereum Layer 2 network. The collaboration aims to reduce fees by approximately 50% for both new and existing users who are looking to move USDC onto the network.
The timing of this announcement is significant, as it follows the passage of the GENIUS Act, which sets the stage for stablecoin regulation in the U.S. As financial institutions show increasing interest in stablecoins, Coinbase’s move signals the growing importance of stablecoins in the crypto ecosystem. Coinbase’s ability to reduce on-ramping costs could make it easier for users to integrate USDC into decentralized finance (DeFi) applications on the Base network.
Role of Circle and USDC in Stablecoin Adoption
The reduction in fees comes just days after Circle, the issuer of USDC, revealed its plans to build a stablecoin-native Layer 1 blockchain. This new Layer 1 will use USDC as a gas token, which will allow for greater utility and efficiency of the stablecoin in blockchain transactions.
Circle’s announcement strengthens the connection between USDC and Coinbase, as the two companies have long been associated through the CENTRE Consortium, which was behind USDC’s creation.
Big news: We're teaming up with @coinbase, @base, and @MetaMask to bring reduced fees for USDC.
🌐 Now available in the UK and EEA.
On-ramp USDC with lower fees now.
Approved by Archax 13/08/2025 pic.twitter.com/BM4rb6eFux
— Mercuryo (@Mercuryo_io) August 14, 2025
Petr Kozyakov, CEO of Mercuryo, emphasized the growing importance of stablecoins in 2025. He noted that USDC is playing a pivotal role in the emerging digital economy and is well-positioned to benefit from the discounted on-ramping offer. The partnership between Coinbase and Mercuryo as a result could be a key step in increasing the adoption of USDC, as stablecoins serve a wide range of purposes, including payments, remittances, and DeFi transactions.
Benefits for MetaMask Users and the Base Network
Base, Coinbase’s Layer 2 network, has been positioned as a solution to the high transaction costs and slow speeds typically associated with Ethereum’s mainnet. By partnering with Mercuryo to lower on-ramping fees, Coinbase aims to encourage more users to move USDC to Base, making the network more accessible and affordable.
For MetaMask users, this move could significantly reduce the cost of transferring USDC to Base, especially when the amount of tokens being moved is large.
The integration of Base with USDC as a result could offer more efficient decentralized finance experiences for users. By lowering the barriers to entry, Coinbase hopes to attract more institutional and retail investors to the Base network, positioning it as a key player in Ethereum scaling.
Circle’s USDC Growth and Future Developments
USDC continues to show impressive growth in circulation. Following Circle’s IPO in June 2025, the company reported a 90% increase in USDC’s supply, reaching $61.3 billion.
This growth as a result underscores USDC’s expanding role in the crypto ecosystem, both as a stablecoin and as a transactional token on decentralized networks like Base.
In addition to the on-ramping fee reduction and Circle’s Layer 1 announcement, Coinbase’s own expansion of its services continues to solidify its position in the stablecoin and Layer 2 space. The focus on improving user experience with lower fees and faster transactions on Base is expected to attract more interest from the crypto community in the coming months.
