PANews reported on November 13 that according to the Coinbase blog, Coinbase announced that the Utopia Labs team will join its Ethereum second-layer network Base to accelerate the development of on-chain payments for Coinbase Wallet. Stablecoin studio Utopia Labs has extensive experience in on-chain payments and will help Coinbase realize its vision of low-cost and fast global on-chain payments in the future.

Data shows that in the second quarter of 2024, the transaction volume of stablecoins reached 8.5 trillion US dollars, with more than 1.1 billion transactions.