Coinbase and Squads Partner to Boost USDC Adoption on Solana

Coinbase has joined forces with Squads, a decentralized finance LAYER on Solana, to accelerate the adoption of the USDC stablecoin on the blockchain. This collaboration leverages Squads' existing traction, which has already secured over $1 billion in USDC across its product suite—representing approximately 15% of USDC's total supply on Solana. The partnership aligns with Coinbase's relaunch of its Stablecoin Bootstrap Fund, a program aimed at enhancing stablecoin liquidity and usability in decentralized finance (DeFi) ecosystems. This move underscores both companies' commitment to fostering innovation and accessibility in digital asset markets while strengthening Solana's position as a leading blockchain for stablecoin transactions.

Coinbase and Squads Partner to Drive USDC Adoption on Solana

Coinbase has teamed up with Squads, a decentralized finance layer on Solana, to accelerate the adoption of the USDC stablecoin on the blockchain. The collaboration builds on Squads' existing traction, which has secured over $1 billion in USDC across its product suite—accounting for roughly 15% of USDC's supply on Solana.

The initiative aligns with Coinbase's relaunch of its Stablecoin Bootstrap Fund, a program designed to enhance DeFi liquidity through stablecoins. Key protocols such as Aave, Jupiter, Morpho, and Kamino are expected to benefit from the expanded USDC integration.

Strategic API and infrastructure enhancements will further streamline adoption. This MOVE underscores the growing institutional interest in Solana's ecosystem and the broader push for stablecoin utility in decentralized finance.

Zora App Gains Traction with Coinbase Backing as Creator Token Trading Sparks Debate

The Zora app, launched in September 2023 with Coinbase's support, has garnered over 177,000 downloads across iOS and Android platforms. Daily active users exceed 18,000, with 36% of engagement originating from Base—Coinbase's rebranded wallet app that recently integrated Zora functionality.

Base engineer Youssef El Allali's new AI agent tool enables simplified trading of creator tokens through mention-based transactions, potentially accelerating adoption. These automatically generated tokens allow users to financially support creators or speculate on token value, though their fundamental utility remains unclear.

While skeptics compare Zora to ephemeral platforms like Friendtech, its sustained growth and Coinbase's infrastructure backing suggest more staying power. The platform's web accessibility and Base integration create multiple entry points for user acquisition.