Coinbase's Base adds 25+ local stablecoins as crypto moves toward settlement infrastructure

Coinbase’s Ethereum layer‑2 network, Base, now hosts more than 25 stablecoins pegged to roughly 21 national currencies across the Americas, Asia‑Pacific, Europe, the Middle East and Africa. The expansion follows a goal announced by Base head Jesse Pollak to support every global currency’s stablecoin by the end of 2027. Base’s recent Beryl upgrade introduced the B20 token standard, embedding compliance tools such as freeze functions and supply caps directly into stablecoin contracts. The network’s total value locked exceeded $5.3 billion in late 2025.

At the same time, the broader stablecoin sector is shifting from consumer‑payment use cases toward wholesale‑finance settlement infrastructure. Industry participants are targeting real‑time (T+0) settlement of foreign‑exchange, securities and treasury transactions to free up trillions of dollars that currently sit idle. Notable moves include Circle’s partnership with Nomura to enable instant FX settlement using USDC in Japan, Ripple’s expansion of RLUSD into the Japanese market, and the multinational Project Pangea working group aimed at real‑time FX settlement across European and Korean banks. ICE’s collaboration with OKX further underscores the drive to bring traditional capital‑market products onto blockchain rails.