Coinbase CEO Brian Armstrong has expressed strong interest in bringing stablecoin transfers to Elon Musk's X social media platform, suggesting that USDC integration would enhance the user experience.
The discussion began when Coinbase's engineering lead Travis Bloom directly addressed Musk about enabling USDC transfers on Base, Coinbase's blockchain network. Armstrong quickly endorsed the idea, tweeting "This would be a great feature @x team let's talk."
The proposed integration would allow X users to transfer USDC, a dollar-pegged stablecoin, directly within the platform. This aligns with X's recent acquisition of money transmission licenses across multiple U.S. states and its broader vision of becoming an "everything app" with integrated payment features.
USDC has seen remarkable growth in 2024, with its total supply increasing by over 80% from $24.2 billion to more than $43 billion. The stablecoin's presence on Ethereum Layer 2 networks, including Base, has expanded substantially from $1.9 billion to $8.1 billion.
Base, Coinbase's Layer 2 network, has emerged as a leading platform with 5.77 million weekly active addresses and $13.8 billion in locked assets. This growth demonstrates the increasing adoption of USDC for fast, low-cost transfers.
The potential collaboration between Coinbase and X represents another step in bringing cryptocurrency solutions to mainstream platforms. X's planned peer-to-peer payment service could benefit from USDC integration, offering users a regulated stablecoin option for value transfers within the social media platform.
As both companies explore this possibility, the integration could mark a notable advancement in merging social media with digital currency capabilities.