Base to Partner Globally for Localized Stablecoin Launches
Base protocol continues to broaden its stablecoin ecosystem, supporting 12 local currency stablecoins, including those pegged to the Indonesian rupiah, Turkish lira, and more.
Summary
At Token2049 in Singapore, Base protocol lead Jesse Pollak emphasized the lack of non-USD stablecoins, revealing that Base now supports 12 local currency stablecoins. Coinbase also introduced new stablecoins pegged to the Singapore dollar and Australian dollar. The USD stablecoin supply grew from $272.3 billion in early September to $284.4 billion.
Terms & Concepts
- Stablecoin: A cryptocurrency pegged to a stable asset, such as fiat currency, to minimize price volatility.
- USDC: A stablecoin pegged to the U.S. dollar, commonly used in DeFi and cryptocurrency transactions.