PANews reported on June 12th, citing The Defiant, that Coinbase CEO Brian Armstrong disclosed three key figures: Coinbase processes $1 trillion in stablecoin flows annually, holds $20 billion in USDC on its platform, and processed over 160 million proxy payments through the x402 proxy payment protocol in the past year. The $1 trillion annual stablecoin flow figure refers to transfers made through Coinbase's payment infrastructure, which differs from the exchange's trading volume. Furthermore, Alec Lovett, Head of Infrastructure Products at Coinbase, revealed that the Base blockchain has processed $19 trillion in stablecoin transactions so far this year.

Previously, Coinbase's first-quarter financial report showed that the platform held $19 billion in USDC, accounting for more than 25% of the total circulating supply of USDC.