Coinbase CEO Advocates for USDC Payments on X Amid Rapid Stablecoin Growth

Brian Armstrong, CEO of Coinbase, has proposed integrating Circle’s USD Coin (USDC) as a payment option on X, the platform formerly known as Twitter. On December 29, Armstrong publicly encouraged X to consider USDC for payments, highlighting its potential value for the platform.

This suggestion echoes an earlier proposal from Travis Bloom, Coinbase’s Lead Engineer, who queried when X’s owner, Elon Musk, might enable USDC transactions on the Base network.

Integrating USDC aligns with X’s broader vision of evolving into an “everything app,” including plans for a peer-to-peer payment system revealed in early 2023. While details about the payment service’s currency—whether fiat or cryptocurrency—remain unspecified, the company has made progress toward establishing itself in the financial space.

X Payments, the platform’s subsidiary, has secured money transmitter licenses in 33 states, including California, Illinois, and Virginia, laying the groundwork for future financial integrations.

Why USDC Integration Makes Sense for X

Introducing USDC as a payment option could serve both X and the stablecoin well. As the world’s second-largest stablecoin after Tether (USDT), USDC emphasizes regulatory compliance and stability, key factors for mainstream adoption.

In 2024, USDC’s supply saw remarkable growth, jumping over 80% from $24.2 billion to more than $43 billion. Much of this growth is tied to its adoption on Ethereum Layer 2 networks, such as Base and Arbitrum.

Base, a Coinbase-backed Layer 2 solution, has emerged as a leader in USDC adoption. The network experienced a 26-fold increase in USDC usage, with its weekly active addresses reaching 5.77 million—representing nearly 58% of all Ethereum Layer 2 activity. Additionally, the total value locked (TVL) on Base has skyrocketed from $745 million to $13.8 billion in 2024, according to L2Beats.

USDC’s Potential on X

Integrating USDC could enhance X’s payment capabilities while expanding the stablecoin’s reach. The explosive growth of USDC on Layer 2 solutions like Base underscores its appeal as a scalable and efficient payment medium.

With X’s ongoing efforts to reshape itself into a multifunctional platform and its steady progress in financial licensing, adding USDC could be a strategic move to bridge social media and digital finance.