Partnerships & Integrations - Partnered with Google to integrate stablecoin payments into AI agents, utilizing x402 to power the stablecoin rail within Google's Agentic Payments Protocol [1] - Partnered with Moonshot, making USDC the official stablecoin across their products, bringing USDC to over 1 million traders on Solana [2] - American Express launched travel stamp NFTs on Base [4] Product Development & Enhancements - Launched the Mag7 + Crypto Equity Index, the first US future to give exposure to tech stocks and crypto simultaneously [1] - Re-architected the payments flow for USDC on Base, reducing receive latency by 90% (from 20 seconds to approximately 1 second) and send latency by 50% (from 5.5 seconds to approximately 2 seconds) [3] - Expanded the Coinbase Advanced VIP program globally, including the US, offering benefits like lower fees and premium services [2] - Added support for Solana to x402 [4] - Built a Solana ⇌ Base bridge [4] DeFi & Stablecoins - Started rolling out DeFi lending, offering up to 74% APY on USDC [4] - Introduced USDC rewards in Canada, offering 41% uncapped and up to 45% with a Coinbase One membership [4] - Listed two new local stablecoins: AUDD and XSGD [4] Market & Trading - Raised max leverage from 20x to 50x on international perpetual futures [4] - Launched CoinbaseMarkets, a new source for Coinbase listings and market insights [4] Strategic Initiatives - Base began exploring a network token, but has no definitive plans [4] - Welcomed the Holdsensible leadership team to Coinbase [4] - Y Combinator requested onchain startups on Base [3]

Core Insights - Coinbase is launching two new non-dollar stablecoins based on the local currencies of Singapore and Australia to encourage global onboarding [1][2][4] - A consumer sentiment survey indicates that 70% of local consumers in these countries are interested in non-dollar stablecoins, suggesting a significant market opportunity [1][5] - The new stablecoins, AUDD and XGSD, are fully backed by fiat collateral and aim to cater to both institutional clients and retail traders [6][7] Expansion Strategy - The introduction of local currency stablecoins is part of Coinbase's broader expansion strategy, which includes advancements in AI and deeper integration with traditional finance [2][4] - By listing these stablecoins, Coinbase anticipates a growing trend towards assets based on fiat currencies other than the US dollar [3][4] Market Potential - Singapore and Australia are identified as key markets for stablecoin expansion, with Coinbase already having established partnerships in Australia [6] - The successful implementation of these stablecoins could reveal a previously untapped market for local currency stablecoins [5]

Coinbase announced it will list the Australian dollar stablecoin AUDD and the Singapore dollar stablecoin XSGD starting September 29 at 19:00 (UTC). AUDD, issued by AUDC Pty Ltd, is a fully collateralized, fiat-backed stablecoin redeemable 1:1 for AUD. XSGD, issued by StraitsX, is fiat-backed and recognized by the Monetary Authority of Singapore (MAS).https://t.co/DJ4XzwIhMu ...

Core Insights - Federal Reserve Chairman Powell indicated that the current policy interest rate remains slightly restrictive, allowing the Fed to better respond to potential economic developments [1][3] - The launch of AUDD and XSGD stablecoins by Coinbase aligns with the Fed's policy adjustments, highlighting a deepening connection between traditional monetary policy and Web3 financial compliance [1][6] Group 1: Federal Reserve Policy Impact - The current "slightly restrictive" interest rate environment (federal funds rate at 4.00% to 4.25%) provides moderate liquidity to the crypto market [3] - Following a 25 basis point rate cut on September 17, the market anticipates an 87.7% probability of an additional 50 basis point cut by year-end, reducing borrowing costs for institutional investments in crypto assets [3][5] Group 2: Stablecoin Adoption and Usage - Coinbase's wallet now features a "one-click exchange + cross-border transfer" function for AUDD and XSGD, allowing users to exchange fiat and stablecoins at a 1:1 ratio, with transfers taking less than 10 minutes [3][6] - In the first week, the usage of this feature exceeded 500,000 times, with institutional users accounting for 38%, indicating a surge in demand for compliant stablecoins [3][6] Group 3: Ecosystem Development - XBIT Wallet has launched trading pairs for AUDD/USDT and XSGD/USDT, creating an ecosystem that integrates wallet storage, exchange trading, and application scenarios [6] - The collaboration between Coinbase wallet and XBIT Wallet enhances the synergy between policy and compliant stablecoins, with a 65% week-over-week increase in stablecoin to mainstream coin conversions following the rate cut [6] Group 4: User Behavior and Financial Services - The integration of policy signals into user operations through XBIT Wallet's features marks a shift towards a dual-driven model of "policy adaptation + technological innovation" in Web3 finance [8] - User numbers holding AUDD and XSGD increased by 34% post-rate cut, with those using the "policy-asset linkage analysis module" experiencing 18% lower asset volatility and 2.9 percentage points higher average returns over seven days [9] Group 5: Long-term Trends - Powell's policy stance and the implementation of compliant stablecoins provide a clear development path for the Web3 wallet industry, emphasizing the need to align closely with policy trends and build a comprehensive service ecosystem to unlock value during liquidity easing periods [9]