Coinbase is relaunching its Stablecoin Bootstrap Fund to enhance the liquidity of USDC in decentralized finance, focusing on collaborations with various protocols such as Aave and Kamino.
Managed by Coinbase Asset Management, the fund aims to ensure USDC’s presence across more protocols over time, addressing the existing market gap compared to Tether.
Despite a revenue decline, Coinbase saw a 12% increase in stablecoin revenue primarily driven by USDC, indicating an ongoing high interest in the stablecoin.
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